Details

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Description

Creekside Lofts
Live. Invest. Grow. Next to Poole Creek.

A rare opportunity to acquire an established income-producing residential portfolio with significant future development potential in Ottawa's west end.

Creekside Lofts consists of three parcels located adjacent to beautiful Poole Creek:

35 Cloverloft Court Legal Duplex
37 Cloverloft Court Legal Duplex
35A Cloverloft Court Vacant Development Lot

Purchase options:

35 Cloverloft Court only: $789,000
37 Cloverloft Court + 35A Cloverloft Court: $1,109,000
Entire package (all three parcels): $1,898,000

### Existing Income

Both duplexes are fully occupied and operated as furnished medium-term rentals (30 to 180 days).

Each of the four units features:

3 Bedrooms
2 Bathrooms
Approximately 1,350 sq ft each
Separate entrance/egress
Refrigerator, Stove, Dishwasher
Washer & Dryer
Microwave
Window Blinds
Furnace (Owned)
Air Conditioning
Air Exchanger
100-Amp Electrical Service
Owned On-Demand Hot Water

Current rental rates average $3,500 per month per unit.

Potential gross revenue from the existing four units is approximately $14,000 per month ($168,000 annually), before considering future development opportunities.

### Development Potential

35A Cloverloft Court is a vacant development lot currently valued at approximately $320,000.

Current zoning is R1D[2240]. As Ottawa transitions many residential zones to the new Neighbourhood ("N") zoning framework, buyers may benefit from future opportunities permitting additional residential density.

The vacant lot can accommodate up to four additional residential units, subject to all required approvals.

### Why Creekside Lofts?

Established furnished-rental business with proven operating history
Immediate income while planning future development
Ideal for investors, developers and owner-occupants
Excellent multi-generational family compound opportunity
Potential co-operative housing community
Deep pie-shaped lots ranging from approximately 146 to 164 feet in depth
Natural greenspace and Poole Creek at the rear for privacy, beauty and noise reduction
Close to transit, shopping, employment areas and services
Approximately 7 minutes to the Canadian Tire Centre

High-Ranch construction means lower-level units are only half a level below grade, featuring 8-foot ceilings, large windows and excellent natural light.

The two existing duplexes contain approximately 5,400 square feet of developed living area in total.

A purchaser may also wish to explore adding accessory backyard workshops, home offices, studio spaces, mancaves or she-sheds (subject to municipal regulations) to further enhance utility and rental appeal.

Three separate PINs and legal descriptions.

Vendor Take-Back / Second Mortgage Available:

For qualified purchasers, Seller may consider a 15% VTB/STB for up to two years at 3.5% interest.