1500 Riverside Drive 2402, Alta Vista and Area

$550,000
1500 Riverside Drive 2402

$550,000

Price Change
43d
Condo ApartmentApartment

1500 Riverside Drive 2402, Alta Vista and Area

Total Monthly Obligation $3,914

Beds
2
Baths
2
Park
2
Sqft
1200-1399
DOM
43d
Score
16
Yield
6.3%
Cash on Cash
-8.6%
Cap Rate
2.7%
5Y IRR
8.8%
10Y IRR
9.3%
Property Type-Condo Apartment
MLS® Number-X13765900
Beds-2
Bathrooms-2
Size-1200-1399 sqft
Listed on site-Sep 10, 2026
Style-Apartment
Building Type-Condo Apartment
Taxes-$4,153 (2026)
Maintenance-$1,149.48/mo
Locker-Owned
Parking-2 - Underground
Basement-None
Heating-Baseboard (Electric)
Brokerage-RE/MAX HALLMARK REALTY GROUP
Cooling-Central Air
Laundry-Yes
Fireplace-Electric
Pool-None
Exterior-Concrete, Other
Possession-TBA
Neighbourhood-3602 - Riverview Park
Title-Residential Condo & Other

No agent assigned

Welcome to 1500 Riverside Drive, a spacious 2-bedroom, 2-bathroom, 2-parking (tandem) penthouse level offering spectacular unobstructed northeast views of the city and Rideau River in sought-after Riverview Park. This bright unit features engineered hardwood flooring, neutral décor, ensuite laundry, parking and storage. The living room is highlighted by a wall of windows showcasing the incredible views and flows into the sizeable dining room. The eat-in kitchen offers rich wood cabinetry, granite countertops, undermount lighting, tile backsplash, and pantry storage. The spacious primary bedroom features a built-in IKEA PAX wardrobe and private 4pc ensuite, while the second bedroom includes a Murphy bed frame and organized double closet. A second full bathroom features a walk-in tiled shower. Enjoy exceptional amenities including indoor and outdoor pools, gym, sauna, hot tub, games and party rooms, squash/racquet and tennis courts, community BBQ, beautifully landscaped grounds and 24-hour gated security. Ideally located near transit, shopping, Rideau River pathways and downtown Ottawa. Some photos were virtually staged. 24 hours irrevocable.

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Closing Costs

Mortgage Amount
$440,000
Land Transfer Taxes$7,475
Legal Fees (Est.)
$
Total cash required for closing$118,975

Total Monthly Obligation

$3,914/mo
Mortgage $2,219
Monthly Loss $3,330
Principal$584
Interest$1,635
Property Tax$346
Condo Fees$1,149
Home Insurance$50
Variable Costs$150
Returns
Weight: 25%
Cap Rate
2.0%12
Cash-on-Cash
-13.4%0
5-Year IRR
5.5%13
10-Year IRR
7.5%
Returns Index
7.5/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
16/ 100
Avoid•Pass

Strategy: Buy & Hold — Weights: CFI 35% · RI 25%
RKI 20% · GI 20%

Assumptions & Inputs
$/mo
%
$
yr
%
Cash Flow
Weight: 35%
Gross Rent
$34,596/yr
NOI
$10,790/yr
Net Cash Flow
-$1,319/mo
Cash Margin
-45.8%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.413
LTV Ratio
80.0%18
Vacancy Buffer
2.5 mo39
Risk Index
20.3/ 100

*This analysis is independently generated NOT provided by TREB or CREA.

Comparables

Properties near 1500 Riverside Drive 2402

Time

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