SoBa Condos in Ottawa

Name: Sales in SoBa Condos started!
Start: 2020-09-11T08:32:53.617676+00:00
End: 2023-12-31T23:59:59+0000
Location: SoBa Condos

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Project info

Object ID: 9218

Finished at	April 2019
Price, m²	From 5920$
Buy online	Details
Installment plan	—
Bank mortgage
Property type	Aparment building
Square	from 93.00 m²
Floors	20
Apartments	209
Condition	Turnkey
Construction type	Monolyth
Security	—
Conveniences	Parking Pool Kids playground Near school Near kindergarten Near supermarket
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Return on investment for apartment

with price

11,755$

Rental income

1,103$

Management

689$

Utilities

587$

5% Income tax

9,376$

Net profit

Month	Days in month	Occupancy, %	Occupancy, days	ADR	Total
January	31	16%	5	55$	275$
February	28	21%	6	55$	330$
March	31	12%	4	60$	240$
April	30	16%	5	60$	300$
May	31	25%	8	60$	480$
June	30	60%	18	80$	1440$
July	31	77%	24	120$	2880$
August	31	77%	24	130$	3120$
September	30	40%	12	100$	1200$
October	31	38%	12	60$	720$
November	30	23%	7	55$	385$
December	31	22%	7	55$	385$
Total	365		132		11755$
Average		35%		74$

Total invested

550,560$

Net profit

9,376$

Payback period

46.8 years

Avg property value increase per year

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About the project

The idea behind SoBa is "South on Bank" - or, SoBa. Not just a condo development, rather a movement to redeem a barren part of Ottawa's Centre Town. Wedged between the QE highway, the Glebe to the south, and Ottawa's Centre Town and downtown north, SoBa is an area ripe for reinvention. SoBa the project is all that. It will single-handedly redeem the area. Rising 20 floors, the three oscillating residential zones play with the eye and offer something of beauty to an area long denied of such a thing. SoBa houses 209 suites.

Developer

Lamb Development Corp. (LDC) was founded in 2001 by Toronto’s top condominium broker Brad J. Lamb to directly participate in the development…
Details about Lamb Development Corp.