Morin Triplex 732 Morin St 3 Unit Apartment Building $1,179,900 CAD ($393,300 CAD/Unit) 4.09% Cap Rate Ottawa, ON K1K 3G9
INVESTMENT HIGHLIGHTS
- Fantastic investment opportunity in a sought-after neighborhood
- Three separate living units, each with own entrance
- Perfect for investors or first time buyers looking for rental income
- Minutes from schools, transit, parks, and more!
EXECUTIVE SUMMARY
This renovated legal triplex is a fantastic investment opportunity in a sought-after neighborhood. Perfect for both seasoned investors and first-time buyers looking to generate rental income, this property offers three separate living units, each with its own private entrance. Unit 1: 3 bedroom, 1 full bathroom with deck and access to backyard ($2,101.25/month). Unit 2: 3 bedroom, 1 full bathroom with balcony ($2,203.75/month). Unit 3: 1 bedroom, 1 full bathroom ($1,300 fix until July 2025). All units have laundry and 2 entrances. City of Ottawa successful building inspection (Oct 2024). This triplex is an exceptional opportunity for both immediate cash flow and long-term equity growth. Situated in Castle Heights, just minutes from St-Laurent complex, schools, transit and much more!
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$65,400
|
$12.27
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$65,400
|
$12.27
|
| Taxes |
$5,105
|
$0.96
|
| Operating Expenses |
$17,113
|
$3.21
|
| Total Expenses |
$22,218
|
$4.17
|
| Net Operating Income |
$43,182
|
$8.10
|
PROPERTY FACTS
| Price | $1,179,900 CAD |
| Price Per Unit | $393,300 CAD |
| Sale Type | Investment |
| Cap Rate | 4.09% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Lot Size | 0.16 AC |
| Building Size | 5,328 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1962/2014 |
| Parking Ratio | 0.38/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Balcony
- Deck
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 2 | $2,100 CAD | 1,504 - 1,600 |
| Studios | 1 | $1,300 CAD | 783 |
1 of 1
Walk Score®
Very Walkable (84)
Bike Score®
Very Bikeable (79)
ZONING
| Zoning Code | R4N |
