Brick facade residence featuring a covered front porch with decorative white columns Features: fence, porch, brick siding More Photos

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    For Sale - 474 SOMERSET Street, Ottawa Centre, Ontario

    Est payment $4,504/mo
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    Time on Jump  85 day

    AI Summary *

    • Prime Centretown location near major amenities and transit.
    • Mixed-use zoning allows for various development opportunities.
    • Existing tenants provide strong cash flow with growth potential.
    • Property has undergone significant renovations for tenant appeal.
    • Five rear parking spaces add convenience in a busy area.




    High-return investment | prime centretown location | development potential | mixed-use zoning. Endless possibilities await with this exceptional income-generating property in the heart of central ottawa, ideally positioned between centretown, chinatown, and little italy. A rare opportunity for investors, developers, and land bankers seeking strong cash flow today with substantial redevelopment potential tomorrow. Zoned tm14 h(20), this highly flexible zoning allows for a wide range of commercial, mixed-use, and multi-residential uses with building heights up to 20 metres, creating tremendous future upside in one of ottawa's fastest-growing urban corridors. Situated on a 29 x 110 ft lot with 5 rear parking spaces, this property offers unbeatable convenience with a near-perfect walk score of 99/100. Steps to transit, employment hubs, restaurants, parks, shopping, and downtown amenities, this location continues to attract strong tenant demand and redevelopment interest. Currently configured with 7 (seven) fully furnished mid- to long-term residential tenants (formerly office use), accompanied by 2 shared kitchens and 2 shared bathrooms. The property has undergone over $100,000 in renovations to enhance tenant appeal and maximize rental performance. Potential gross income when fully rented: $116,832/year. Generate strong existing income while maintaining the flexibility to redevelop, reposition, expand, or hold as a long-term appreciation asset. Ideal for developers, commercial investors, multi-unit buyers, and those seeking a value-add opportunity with future intensification potential. Rarely do properties combine cash flow, premium urban location, zoning flexibility, parking, and development potential in one package. Contact listing agent for financials, additional photos, and private viewing. All serious offers welcome.
    Listing IDX13167240
    Address474 SOMERSET Street
    CityOttawa Centre, Ontario
    Price$938,000
    StyleInvestment
    TypeIndustrial/Commercial
    StatusFor Sale

    Subtype InvestmentHeating / Cooling Gas Forced Air Closed

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    Listing Agency:  RE/MAX HALLMARK REALTY GROUP

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

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