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    For Sale - 514 Bay Street, Ottawa Centre, Ontario

    Est payment $7,582/mo
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    Views   2
    Time on Jump  5 day

    AI Summary *

    • Well-maintained 5+1-unit building with strong rental income potential.
    • Prime location near downtown, shops, and public transit for tenant convenience.
    • Diverse mix of four 2-bedroom and two 1-bedroom units.
    • Recent major updates to units, including new appliances and flooring.
    • Vacant unit offers owner-occupier opportunity while generating income from others.




    Welcome to 514 & 516 bay street, an excellent opportunity to own a well-maintained 5+1-unit building in the heart of centretown, offering a solid 6. 4% cap rate and positive cash flow. This property combines stable income with immediate rental upside. Located on the corner of bay and gladstone, the building sits in a desirable residential pocket surrounded by established single-family homes and multi-unit properties. Just steps to downtown offices, shops, restaurants, and public transit, this prime location continues to attract consistent tenant demand. The property features four 2-bedroom units and two 1-bedroom units, providing a strong rental mix. One unit is currently vacant, offering the new owner the opportunity to set rent at today's market rate. There is a shared driveway with parking for three vehicles, adding further tenant appeal. Major updates were completed in 2022, including new subfloors, flooring, upgraded kitchens and bathrooms, lighting, insulation, and new appliances in three units. The roof was replaced in 2023, helping reduce near-term capital expenses. For owner-occupiers, the vacant unit also presents the option to move in while the remaining units generate income to significantly offset or potentially cover your mortgage.
    Listing IDX12927004
    Address514 Bay Street
    CityOttawa Centre, Ontario
    Price$1,579,000
    Bed / Bath10 / 6 Full
    Style3-Storey, Multiplex
    ConstructionBrick
    TypeMulti-Family
    StatusFor Sale

    Subtype MultiplexIndoor Features Carpet FreeOwnership FreeholdBasement UnfinishedFoundation ConcreteHeating / Cooling BaseboardHeating Fuel ElectricSewer Sewer

    Parking 3.00
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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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    514 Bay Street
    Ottawa Centre , Ontario
    10 6 $1,579,000
    Get more info