Buy.

Purhased by members of OREG on July 15th, 2015, this 4-plex is a two storey which consists of four, two bedroom units and is located in Carson’s Grove just minutes from Downtown Ottawa on an oversized 69’ x 100’ lot.

RENT.

The 4-plex is currently a highly profitable cash-flowing rental property.

BUILD.

In the near future, OREG with take advantage of the re-zoning and build a profitable 8-plex on the property. This will be a buy and hold strategy with capital lending opportunites ranging from 12 to 24 months.

Economic Growth.

The city’s economy has grown by an average of 2.7% annually over the last five years. While COVID-19 shrank the GDP in 2020, experts forecast that Canada’s economy will resume growing by 5.3% in 2021 and 3.5% in 2022.

Home Values.

According to the Ottawa Real Estate Board (OREB), the average price of a residential-class property in Ottawa was $582,267 at the end of December, a 20 per cent jump from 2019. Meanwhile, the average condo sold for $361,337, up 19 per cent over a year earlier. 

Last month, Royal LePage said it’s forecasting the aggregate price of a home in the capital region to rise 11.5 per cent in 2021, well ahead of the overall average increase of 5.5% across all major Canadian markets. The brokerage said the spike is being fueled by the region’s stable government- and tech-driven economy, an influx of buyers from the Toronto area looking for better value and surging demand for roomier properties in the COVID-19 era.

Vacancy Rates.

With demand dampened by the COVID-19 pandemic and a growth in supply, Ottawa’s rental apartment vacancy rate rose to 3.9 per cent in October 2020. Vacancy rates went up in most of Canada’s major cities due to COVID-19.