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Ottawa - Gatineau

Ottawa

East Industrial

1368 LABRIE AVENUE

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$2,350,000

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1368 LABRIE AVENUE
Ottawa, Ontario K1B3M1

MLS^® Number: 1399924

Listing Description

Develop & Construct or Own & Operate - Be opportunistic in a transitioning neighborhood! Recently rezoned TD1 site on 0.34 acres. Located less than 400m to the Cyrville Transit Station with plans for a 6-storey mid-rise residential building. Currently operates as Triplex-Office with three 2BDRM units, an office building and fenced storage yard. Unit 1 (lower): Renovated 2bdrm $2100/month incl. Unit 2 (ground): Spacious-upgraded eat-in kitchen $1950/month incl. Unit 3 (upper): Bright-upgraded kitchen and bath $1940/month incl office outbuilding with bathroom Fenced Year Yard: Vacant-previously leased for $1350/month for equipment storage - professionally graded with compacted gravel and separate gated entrance. Storage Shed: 2 Storage Units included with Unit 1&2 Parking: 8 spaces (included) Current gross income is 71k/year with potential to increase to 88k/year. Notices for rent increases of 2.5% take effect in October 2024. Existing leases 1yr+ (28568001)