For Sale: 218-220 Mcarthur Avenue, Ottawa, ON - REW
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$1,600,000
2 bd • 4 ba • 1500 - 1999 sf • Multifamily
218-220 Mcarthur Avenue
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$1,600,000
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218-220 Mcarthur AvenueOttawa, ON, K1L 6P5

Overbrook - McArthur
  • 2 Bed
  • 4 Bath
  • 1500 - 1999 Sqft
  • Multifamily

About this home

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 (id:63626)
Listed by: Allen Changizi, Salesperson, ROYAL LEPAGE INTEGRITY REALTY

Home facts and features

Price details
List Price
$1,600,000
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Gross Taxes for 2025
$3,743
Home facts
Bedrooms
2
Full Bathrooms
4
Parking Spaces
5
Parking Details
No Garage
Property Type
Multifamily
Depth
96 feet
Frontage
44.0 feet
Exterior Finish
Vinyl siding
Heating Type
Heat Pump, Forced air, Electric, Natural gas
Cooling
Central air conditioning
Basement Details
Crawl space
Community
Agent details
Primary Agent
Allen Changizi
Primary Broker
ROYAL LEPAGE INTEGRITY REALTY
Listing details
Days on REW
154 Days
Property Views
19
MLS® Number
X12671512
Source
Canadian Real Estate Association
Board
Ottawa Real Estate Board
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25 Years
Interest Rate
3.99%

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Property Insights

É Élém C Horizon-Jeunesse
  • Catholic
  • JK - 6
Assumption Catholic Elementary School
  • Catholic
  • JK - 6
Répit-Transit
  • Public
  • JK - 12
ÉEP Le Trillium
  • Public
  • JK - 6
Robert E. Wilson Public School
  • Public
  • JK - 6
St Michael School
  • Catholic
  • K - 6
Ottawa Technical Secondary School
  • Public
  • 9 - 12
ÉEP Trille des Bois
  • Public
  • JK - 8
Rideau High School
  • Public
  • 9 - 12
Queen Elizabeth Public School
  • Public
  • JK - 8
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Salesperson
Allen Changizi
Phone:
(613) 262-1212
Office:
613-829-1818
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By proceeding, you consent to receive communications using the methods provided, from REW.ca and our partners about your inquiry and other home-related matters to assist you in your search, but not as a condition of any purchase.