FIRST LOOK: Downtown property has revenue potential

Investors needn’t look any further than this week’s First Look property to expand their holdings portfolio.

Conveniently located in downtown Ottawa, this four-plex has plenty of parking because it’s not on Main Street — but on Walnut Street.

The property has three residential one-bedroom apartments and a retail/commercial space.

The three apartments are all occupied and rent for $400 a month.

The building is sturdy brick and is equipped with central heat and air conditioning.

Each apartment has its own entrance and a rear exit for safety. Each front entrance is covered.

The retail/commercial office space faces Walnut Street and is leased for $500 a month by a reliable and established business.

Utilities are on separate meters and paid by the tenants.

Water is paid by the landlord.

The current arrangements are for a property manager to be paid 10 percent of each rent per month in management fees.

A rear patio allows grilling and other outdoor activities for all tenants.

The income potential versus the listing price makes this a profitable investment right from the start.

Rental property investors never may find a better time to increase their inventory than right now.

For your private first look, contact Mary Ann, a Realtor with Reece & Nichols Town & Country Realty, at (785) 418-4402.

Linda Brown is marketing director for The Ottawa Herald. E-mail her at lbrown@ottawaherald.com.