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$ 1,600,000
Est. payment /mo
New
218-220 Mcarthur AVE Vanier And Kingsview Park, ON K1L 6P5
2 Beds
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1500-2000
Subdivision 3404 - Vanier
MLS Listing ID X12671512
Style 2-Storey
Bedrooms 2
Annual Tax Amount $3,743
Tax Year 2025
Property Sub-Type Fourplex
Property Description
ATTENTION BUILDERS & INVESTORS - SHOVEL READY 9 UNIT DEVELOPMENT Vanier, Ottawa. 220 McArthur Avenue represents a rare opportunity to acquire a fully entitled, shovel ready development site in one of Ottawa's fastest intensifying urban corridors. Ideally positioned steps from Vanier Parkway and McArthur Avenue, the site benefits from excellent transit connectivity, proximity to downtown, and strong longterm rental fundamentals. The property is offered at $1.6M as land with approvals, featuring a demolition permit issued and fully approved architectural plans for a 9 unit residential building. All utilities have been fully disconnected, allowing for an immediate and efficient start to redevelopment. Estimated Project Economics (Upon Completion) Approximate Gross Monthly Rental Income: $20,600, Approximate Gross Annual Rental Income: $247,200, Estimated Stabilized Net Operating Income (NOI): ~$181,764 Capitalization Rate Applied: 5.50% Estimated Stabilized Value: ~$3.3M. A future value appraisal has been completed by an AACI designated appraiser, with valuation conclusions based on the above stabilized income assumptions, subject to construction in accordance with the approved plans. Preliminary construction cost guidance suggests approximately $1.8M, subject to final contractor pricing, scope confirmation, and purchaser due diligence. To obtain the final release of approved plans from the City, a known and fully disclosed municipal payment of approximately $95,000 remains outstanding.The project is eligible for CMHC MLI Select financing, offering the potential for below prime interest rates and amortization periods of up to 50 years, significantly enhancing leverage, cash flow, and long term return potential, subject to CMHC and lender approval. NDA required prior to the release of architectural drawings, appraisal materials, supporting documentation, or the scheduling of site visits
Location
Province ON
County Ottawa
Area Ottawa
Rooms
Family Room No
Basement Crawl Space
Kitchen 4
Interior
Interior Features None
Cooling Central Air
Fireplace No
Heat Source Electric
Exterior
Parking Features Available
Pool None
Waterfront Description None
Roof Type Asphalt Shingle
Lot Frontage 44.0
Lot Depth 96.0
Total Parking Spaces 5
Building
Foundation Concrete
Others
ParcelsYN No
Listed by ROYAL LEPAGE INTEGRITY REALTY