$599,999
ULS: 23193882
5-6-7-Plex
for sale
64Z - 66Z Rue De Lorimier, Gatineau (Hull) (Lac des Fées, Wrightville)
Rare opportunity: 5-plex strategic conversion in Hull, Lac des Fées area. Interior completely stripped, ready for immediate reconstruction to your standards. Commercial financing CMHC MLI Select available ($1,175,000 financeable) or residential option with renovation loan. Certified appraisal: $1,303,333. Approved plans for 2×2BR and 3×1BR units. Prime location: Cégep/UQO, highway access, downtown Ottawa. Stable investment, strong rental potential. Ideal for investors and developers.
Living area
2,698.54 ft²
Property features
2
Bedrooms
1
Bathroom
Addendum
* A STRATEGIC INVESTMENT OPPORTUNITY IN GATINEAU
This property represents a unique opportunity for savvy investors and developers: an income property in full conversion, located in one of Hull's most sought-after areas.
* APPROVED TRIPLEX 5-PLEX CONVERSION
Currently registered on the assessment roll as a triplex, this property has undergone complete administrative procedures with the City of Gatineau for its conversion to a 5-plex. The interior has been fully stripped, allowing for immediate reconstruction to your quality standards. Plans include 5 units: 2 two-bedroom apartments and 3 one-bedroom apartments.
* ADVANTAGEOUS COMMERCIAL FINANCING
The 5-plex conversion provides access to the commercial financing department, offering significantly more favorable terms than traditional residential financing. Through the CMHC MLI Select program, a financeable amount of $1,175,000 is available, based on a certified appraisal establishing the property's average value at $1,303,333 (average of 3 appraisal methods: cost/sales comparison/income). It's important to note that the appraiser did not include any value premium related to potential rental income optimization. The new owner can enhance returns by including Internet and appliances in lease agreements, thereby justifying higher rents than those used in the appraisal calculations.
* ALTERNATIVE OPTION: RESIDENTIAL FINANCING
For buyers preferring a different approach, the property can also be acquired and financed as a triplex through the residential department, with a renovation loan allowing financing of work up to 80% of the property's future value (post-renovation).
* PRIME LOCATION, HIGH RENTAL POTENTIAL
Located in the Lac des Fées/Wrightville neighborhood in Hull, the property benefits from a strategic location: immediate proximity to Cégep de l'Outaouais, Université du Québec en Outaouais (UQO), highway access, and downtown Ottawa. This location guarantees consistent rental demand and a stable long-term investment.
* IDEAL BUYER PROFILE
Real estate investors, developers, construction entrepreneurs, and real estate portfolio managers seeking a turnkey project with optimized financing and superior return potential.
This property represents a unique opportunity for savvy investors and developers: an income property in full conversion, located in one of Hull's most sought-after areas.
* APPROVED TRIPLEX 5-PLEX CONVERSION
Currently registered on the assessment roll as a triplex, this property has undergone complete administrative procedures with the City of Gatineau for its conversion to a 5-plex. The interior has been fully stripped, allowing for immediate reconstruction to your quality standards. Plans include 5 units: 2 two-bedroom apartments and 3 one-bedroom apartments.
* ADVANTAGEOUS COMMERCIAL FINANCING
The 5-plex conversion provides access to the commercial financing department, offering significantly more favorable terms than traditional residential financing. Through the CMHC MLI Select program, a financeable amount of $1,175,000 is available, based on a certified appraisal establishing the property's average value at $1,303,333 (average of 3 appraisal methods: cost/sales comparison/income). It's important to note that the appraiser did not include any value premium related to potential rental income optimization. The new owner can enhance returns by including Internet and appliances in lease agreements, thereby justifying higher rents than those used in the appraisal calculations.
* ALTERNATIVE OPTION: RESIDENTIAL FINANCING
For buyers preferring a different approach, the property can also be acquired and financed as a triplex through the residential department, with a renovation loan allowing financing of work up to 80% of the property's future value (post-renovation).
* PRIME LOCATION, HIGH RENTAL POTENTIAL
Located in the Lac des Fées/Wrightville neighborhood in Hull, the property benefits from a strategic location: immediate proximity to Cégep de l'Outaouais, Université du Québec en Outaouais (UQO), highway access, and downtown Ottawa. This location guarantees consistent rental demand and a stable long-term investment.
* IDEAL BUYER PROFILE
Real estate investors, developers, construction entrepreneurs, and real estate portfolio managers seeking a turnkey project with optimized financing and superior return potential.
Building details and property interior
Dimensions
27' 7" X 38' 8" irr.
Year constructed
1920
Living area
2,698.54 ft²
Siding
Brick
Lot and exterior features
Lot size
42' X 108' 5" irr.
Lot area
6,300.17 ft²
Proximity
Highway, CEGEP, Daycare centre, Hospital, Park, Bicycle path, Elementary school, High school, Public transportation, University
Characteristics
Water Supply
Municipality
Sewage System
Municipality
Financial details
Municipal assessment (2025)
- Lot assessment
- $ 321,900
- Building assessment
- $ 386,900
- Total
- $ 708,800
Taxes
- Municipal (2025)
- $ 8,864
- School (2025)
- $ 483
- Total
- $ 9,347
Gross annual revenues (potential)
- Residential
- $ 78,240
- Parking
- $ 3,600
- Total
- $ 81,840
Inclusions and exclusions
Mortgage payment calculator
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