House For Sale - 271 McArthur Avenue, Ottawa, ON

Ready to live-in mixed Residential/Commercial TM MS1 H(20) Property with large 2-bedroom and unregistered suite/studio

SUMMARY DESCRIPTION:

FOR SALE: 271 McArthur Avenue, Ottawa resides on a Traditional Maintreet (TM) commercial/residential lot soon to become MS1 H(20) zoned mixed usage lot. This property is hosting a charming and well maintained two-floor detached brick house with a separate storage/workshop on a foundation and with electricity. This property is located on a lovely, fenced and treed backyard with NO neighbour at the back of the property, 5 minutes from downtown Ottawa.

GREAT ZONING: This mixed usage residential/commercial property offers one of the most versatile and best value for money opportunity ($$/ft2) you can currently get for a property on a TM zoned lot soon to become MS1 H(20) zoned in Ottawa. Ideal for any professional such as an accountant, lawyer, real estate agent, consultant, construction worker and/or investor, this buyer's purchase opportunity allows the new owner to take advantage of its live in, exploit it for business, rent it and/or hold onto it for future investment/construction project as the lot can be used for a developmental project/construction of up to 20 meters high - 6 floors building. Please note that the governments are promoting such projects along with the densification of the population in downtown Vanier-Ottawa where citizens must be able to get their service needs met within 15 minutes of walk from their accommodation. You can also rent the basement suite residentially or commercially to help pay for your mortgage while you can enjoy living on the main and second floor and pay only the residential taxes on your living space. Validate theses possibilities with the city before buying.

GREAT RENTAL INCOME: Well maintained large three bedroom residential/commercial property (or large 2-bedroom with an unregistered opened concept suite/studio in the basement) provides approximately 2400 sqft of living space excluding utility rooms (furnace & sump pump rooms). The property has been rented profitably since 2005. The potential gross rental income is approx. $45000/year for 2025 with potential for revenue increase with no or a minimal investment. The property for sale is owned by "GetITExperT Inc." or in French "AcquIerTExperT Inc." (3775356 Canada Inc.) a business delivering Information Technology (IT), Information Management (IM) and Project Management services since 2000. The business is NOT included in the listed sale price.

GREAT LOCATION: This property offers an easy access to the city bus, cycling paths, schools, shopping malls, restaurants, Queensway, hospitals, arena, and the bridges to the province of Quebec. It is also close to several Embassies and government departments/agencies. The bus stops are located one house away to the property for expedite transport to the Rideau or St-Laurent shopping mall. The bus schedule runs every 15 minutes at peak hours.

DISCLAIMER: The information provided in this AD is provided in good faith by the seller. Before making a purchase offer, potential buyers need to do their own verifications in contacting the Ottawa municipal authorities for any project that implies a change of property use and development. Sections 197 and 198 of the City of Ottawa Zoning By-law detail the list of residential and commercial uses permitted on this TM Zoned property soon to become an MS1 H(20) zoned property.

DESCRIPTION DETAILS:

1ST FLOOR OF THE HOUSE: As French doors adorn the house throughout, the main floor recovered in oak hardwood, offers an open concept with a large living room with a gas fireplace, and a pleasant dining room with patio doors leading to a 2-level wooden and tile decks for summer dining and enjoyment. The eat-in kitchen connects to the dining room with laminated floor, counters top with oak moldings, efficient lighting, and ample cupboards space.

2nd FLOOR OF THE HOUSE: Offers two spacious bedrooms with wood grain laminated flooring and a complete bathroom. The master bedroom spans over approximately 24 x 10,1 feet excluding a wall-to-wall stain glass closet while the second bedroom offers approximately 13,1 x11.1 feet of resting area excluding the closet.

A four-pieces washroom is located on the 2nd floor equipped with an integrated shower and bathtub, low debit toilet, fan, sink and cabinet along with a deep closet serving as additional storage space.

FINISHED BASEMENT: The basement is finished except for two utility rooms, the sump pump and furnace rooms. It offers an open concept living space which can be used as a home office/suite or as a 3rd bedroom. This suite includes a wall-to-wall mirror door closet, a separate entrance to the house, a closet for guests and a pleasant kitchenette with appliances equipped with a self and easy clean stove, fridge, microwave, dehumidifier connected directly to the well for low maintenance along with a kitchen counter with sink and efficient lighting. The suite includes a three-pieces washroom equipped with a shower, low debit toilet, sink, fan and large storage space for towels and supplies. There is a side entrance to the house providing a direct access to the basement with a different lock from the main house entrance located at the front of the property along with a dedicated parking space.

LAUNDRY ROOM: The laundry room includes a washer and dryer located in the basement and which room is separate from the 3rd bedroom or home office/suite.

ROOFS: 1) Roof of house redone in 2017 with covered gutters 2) Roof of shed/workshop protected against weather damage and awaiting new project idea.

PARKINGS: There is a total of 3 parking spaces available in line on a paved driveway on the right side of the house. There is also a landscapping area on gravel available in front of the balcony which is currently used as an additional parking space for the basement suite/3rd bedroom.

LARGE & LOVELY fenced BACKYARD with DECKS and NO NEIGHBOUR at the back: A 2-level wood and tile patio deck can be enjoyed in the backyard with no neighbour at the back of the property. At the front of the house a new balcony built in November 2023 lands onto a tile deck offering a pathway into the house.

DETACHED GARAGE SIZE STORAGE FACILITY: A detached shed 28x13 ft has been transformed into a cold storage facility with electricity, large windows and two entrances. It is great to be used as a workshop or for small projects. Its ciment fondation could be used to host a tiny home or office with a small investment to bring additional income within the extensive list of residential and commercial MS1 H(20) zoned usage allowed.

UTILITIES: The high efficiency gas furnace belongs to the owner (fall 2022) along with the gas water tank which supply the house with central heat and hot water (so no rental charges apply). Air conditioned (Trane) is also central and controlled from the main floor with a programmable thermostat to save on energy. A 25 000 BTU gas fireplace located in the open concept living room is wishing you a warm welcome as you access the house from the main house entrance. There are 200 amps service to the house which includes 125 & 70 amp services to the house plus a 100 amp to the house and workshop in the backyard.

VIEWING: By appointment only. Please Email your request to [email protected] with your contact information and full name. Email requests for visits from interested potential buyers shall include a time sensitive valid pre-approved official bank mortgage statement equal to the listed price or exceeding 1 million Canadian dollars. Thank you for your time and interest. Don't miss your chance to make an offer on this great deal as the supply for such versatile and great value property is very low.