923-949 package includes: bronson avenue 2 single family houses, and 4 semi detached houses. Mix of R5 and R4 zoning.
opportunity to build:
A six level 55 unit building and an 18 unit building with annual rental income projected at $1.5 million.
LOT SIZE:
183.98 x 105 foot lot 19,318 square feet
Chris Coveny (613) 238-2801 165 Pretoria Avenue Toll Free 1-877-757-7386 Ottawa,ON K1S 1X1 Email: [email protected] 55 unit building
SIDE ELEVATION (SOUTH) REAR ELEVATION (EAST) 55 unit building typical main floor unit layouts
typical layouts basement units 18 unit building
18 unit building typical unit layouts 1st-5th floors
typical unit layouts 2nd & 3rd floor 923-949 Bronson Avenue
ideal location steps to: also close to: short drive to:
Carleton University Lansdowne Park Westboro Canal Little Italy Airport Dow’s Lake Chinatown
This parcel of land on Bronson Avenue is located in the trendy, upscale neighbourhood of the Glebe, which contains a mix of single family homes, townhomes & semi-detached dwellings, luxury condominiums and apartment buildings. Located directly West is Dow’s Lake, part of The Rideau Canal, a large tourist destination during Winterlude and spring’s Tulip Festival. To the south and within walking distance, is Carleton University, one of Ottawa’s 2 Universities, as well as Brewer Park and the Rideau River. Newly re-developed Lansdowne Park is also located in the Glebe and is East of Bronson Avenue. It is home to the Ottawa Redblacks, Ottawa Fury FC and the Ottawa 67’s. It hosts concerts, farmer’s markets, and many other events and has a movie theatre, multiple restaurants, retails shops and a Whole Foods. To the North and West are the neighbourhoods of Little Italy, Chinatown and Centretown, as well as Parliament Hill. rental projections
1) Current Design: 2) Maximize units option for larger building:
55 Unit building - R5 zoning 88 Bachelor units at $1500 monthly 4 Bachelor units at $1500 monthly $1,584,000 annual rental income 46 one bedroom units at $1800 monthly 18 unit building stays the same at $378,000 annual 5 two bedroom units at $2400 monthly rental income $100,800 monthly rental income = $1,209,600 annual $1,962,000 gross annual income rental income estimate expenses at 35% $1,275,300 net annual income 18 Unit building - R4 zoning Cap rate of 5% = valuation of $25,506,000 3 Bachelor units at $1500 monthly 15 one bedroom units at $1800 monthly $31,500 monthly rental income = $378,000 annual rental income
$1,587,000 gross annual income estimated expenses at 35% $1,031,940 net annual income Cap rate of 5% = valuation of $20,631,000 Engineering studies that have been completed:
Property land survey Phase 1 environmental site assessment Rezoning completed Landscape plan (for site plan) Arborist (tree conservation report) July 2012 M&E (fire and water) Architecture (detailed conceptuals, 3D renderings, shadow study) LEED scorecard Water supply pressure/flow capacity (City of Ottawa) Structural study Geotechnical investigation Traffic study