812 Kirkwood 879k

812 Kirkwood Ave : Asking Price: $879,000

Synercapital Real Estate Investment Services Inc.

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Alex Diaz, Broker of Record

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Tel 613.860.3500 ext. 27

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Cell 613.263.0133

Email [email protected]

Website www.synercapital.ca

DISCLAIMER: The information herein contained has been provided by the principals and sources which we deem reliable, but for which we assume no responsibility, and make no guarantees or warranties as to its accuracy. The information provided should be verified by you and your advisors, and is subject to change without notice.

TABLE OF CONTENTS

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Property Description

Section 2

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Pricing & Financial Analysis

Section 3

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Rent Roll

Section 4

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Comparables

DISCLAIMER: The information herein contained has been provided by the principals and sources which we deem reliable, but for which we assume no responsibility, and make no guarantees or warranties as to its accuracy. The information provided should be verified by you and your advisors, and is subject to change without notice.

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Section 1

amenities. Beautiful, spacious apartments featuring hardwood and ceramic flooring, large living room and dining rooms as well as fully renovated kitchens and bathrooms. This charming building consists of a single one bedroom unit as well as 5 two bedroom suites. Centrally located, this building easily attracts tenants for both parking and residential. Tenants are all professionals.

Location ::

812 Kirkwood Ave.

Close to ::

Carling Ave.

Units ::

6

Asking Price ::

$879,000

Price/Suite ::

$146,500

Reference ::

n/a

Age ::

1950’s

Lot Size ::

88’ X 110’

Construction :

wood frame

# of Stories ::

3

Balconies ::

no

Elevator ::

no

Intercom ::

yes

Hall Floors ::

ceramic tile

Room Floors ::

hard wood / ceramic

Fridges / Stoves ::

6/6

Heating Type ::

Gas / boiler owned

Hot Water Supply ::

Gas / HWT rented

Washer / Dryer ::

coin operated

Parking / Garages ::

6+3

Leases ::

1 year contract

Brick/Exterior ::

good condition

Hydro Paid ::

paid by tenants

DISCLAIMER: The information herein contained has been provided by the principals and sources which we deem reliable, but for which we assume no responsibility, and make no guarantees or warranties as to its accuracy. The information provided should be verified by you and your advisors, and is subject to change without notice.

PROPERTY DESCRIPTION

This Apartment Complex is well located in the City of Ottawa, with immediate access to the 417 and close to all

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PROPERTY DESCRIPTION

PROPERTY DESCRIPTION

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PROPERTY PHOTOS

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DISCLAIMER: The information herein contained has been provided by the principals and sources which we deem reliable, but for which we assume no responsibility, and make no guarantees or warranties as to its accuracy. The information provided should be verified by you and your advisors, and is subject to change without notice.

hydro meters as well as breaker panels and all units have been re-wired for High Speed access . Suites are in excellent condition; featuring all new kitchen cabinetry and appliances, refinished hardwood and ceramic tile flooring as well as new bathroom fixtures. Capital items such as the roof and fascia, windows and doors, heating and domestic hot water are new and in great condition .

Roof ::

new 2008

Windows ::

new 2008 (double hung)

Balconies ::

n/a

Parking ::

good condition

Fire Retro ::

yes

Htg Equip ::

high efficiency boiler (2008)

Frdgs/Stvs ::

all new (2008)

Elevator ::

n/a

Plumbing ::

good cond. / new fixtures

MAP

Map

DISCLAIMER: The information herein contained has been provided by the principals and sources which we deem reliable, but for which we assume no responsibility, and make no guarantees or warranties as to its accuracy. The information provided should be verified by you and your advisors, and is subject to change without notice.

PROPERTY DESCRIPTION

Excellent income producing property with extensive renovations completed in 2008. The building has individual

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STATUS OF CAPITAL ITEMS:

$67,200

Parking:

$3,600

Laundry:

$1,872

Other Income:

PRICING & FINANCIAL ANALYSIS

Rental Income :

EXPENSES Property Taxes:

$6,838

Insurance:

$1,688

Hydro (Common Areas*): Heat:

$5,053

Water:

$1,370

Maintenance ($300 per unit):

$1,800

Management/Superintendant:

$3,000

$

Less Vacancy (3%):

$(1453)

Gross Effective Revenue:

$71,219

Total Expenses:

NET OPERATING INCOME

$49,690

ASKING PRICE

$879,000

PRICE / UNIT

$146,500

ASKING CAP RATE

5.65%

$780

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REVENUE

$21,529

MORTGAGE INFO: 1st Mortgage

Amount %

Amount $

Rate

Mon. Payment

Ann. Payment

Principle

71%

$627,068

5%

$3,410

$40,926

$9,516

*Mortgage Payment includes CMHC premium

CASH / DOWNPAYMENT REQUIRED:

Cash Required

$251,931

Down Payment

29%

Gross Annual Income

$71,219

Less Total Expenses

$21,529

Net Operating Income

$49,690

Cap Rate

5.65%

Less Mortgage. Payments

$40,926

Cash Flow in

$8,764

Cash Return

3.3%

Principal Recap

$9,516

Principle Return

3.6%

Total Return on Investment

$18,279

Total Return of Investment

6.9%

DISCLAIMER: The information herein contained has been provided by the principals and sources which we deem reliable, but for which we assume no responsibility, and make no guarantees or warranties as to its accuracy. The information provided should be verified by you and your advisors, and is subject to change without notice.

RENT ROLL

:: RENT ROLL

Unit

Bedrooms

Rent

Unit 1

2

$975

Unit 2

1

$725

Unit 3

2

$975

Unit 4

2

$975

Unit 5

2

$975

Unit 6

2

$975

Garage 1

N/A

$100

Garage 2

N/A

$100

Garage 3

N/A

$100

Monthly Income from Rent

$5,600

Parking Income

$300

Laundry Income

$156

Other Income

$

Less Vacancy (2%)

($121)

TOTAL MONTHLY INCOME

$5,935

TOTAL ANNUAL INCOME

$71,219

DISCLAIMER: The information herein contained has been provided by the principals and sources which we deem reliable, but for which we assume no responsibility, and make no guarantees or warranties as to its accuracy. The information provided should be verified by you and your advisors, and is subject to change without notice.

COMPARABLES

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812 Kirkwood Ave Ottawa, ON photo

# of Units: 6

Price/Unit: $146,500

Closing Date: n/a Net Income: $49,690

CAP rate: 5.65%

Asking Price: $879,000

1

690 Cole Ave Ottawa, ON # of Units: 6

Price/Unit: $133,333

Closing Date: May 2009 Net Income: $31,831

CAP rate: 3.98%

Sale Price: $800,000

2

718 Churchill Ave N Ottawa, ON # of Units: 7

Price/Unit: $111,143

Closing Date: April 2009 Net Income: $36,887

CAP rate: 4.74%

Sale Price: $778,000

3

463 Churchill Ave N Ottawa, ON # of Units: 7

Price/Unit: $106,429

Closing Date: Nov. 2008 Net Income: $46,287

CAP rate: 6.21%

Sale Price: $745,000

DISCLAIMER: The information herein contained has been provided by the principals and sources which we deem reliable, but for which we assume no responsibility, and make no guarantees or warranties as to its accuracy. The information provided should be verified by you and your advisors, and is subject to change without notice.