Existing Building: 4 Unit More Photos

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    For Sale - 575 Somerset Street, Ottawa Centre, Ontario

    Est payment $4,298/mo
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    Views   1
    Time on Jump  28 day

    AI Summary *

    • Three tenanted units currently generating reliable income.
    • Vacant basement offers potential for additional income.
    • Complete redevelopment package with permits ready for submission.
    • Prime location within walking distance to amenities and transit.
    • Room for expansion with plans for additional storeys.




    Rare dual-opportunity in the heart of centretown. Buy cash flow today, build tomorrow. Three tenanted units generating verified income with a vacant basement offering additional income potential. Included is a complete, permit-ready 10-unit redevelopment package - full architectural, servicing, grading, electrical and tree reports. Building and demolition permits submitted to the city of ottawa; first-round review complete with standard infill comments issued. Buyers can revise or proceed to resubmission under their own name. Set up for mli select financing: up to 95% ltv and 50-year amortization. Accessible lift included in plans with potential to add 2 additional storeys. 33' x 112' lot. 4 parking spaces. Walking distance to bank st, elgin, and little italy. Close to grocery, retail, dining, transit and lrt. Unit mix: 2 x 2-bedroom, 1 x 1-bedroom (tenanted) + basement unit (vacant). Permit-ready package, architectural drawings, and financials available. Contact listing agent for data room access.
    Listing IDX13758910
    Address575 Somerset Street
    CityOttawa Centre, Ontario
    Price$895,000
    Bath4 Full
    StyleInvestment
    Land Size3735
    TypeIndustrial/Commercial
    StatusFor Sale

    Subtype InvestmentCommunity Features Public Transit, Recreation/Community CentreBasement 1Heating / Cooling Gas Forced Air Open

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    Listing Brokerage: PARADIGM COMMERCIAL REAL ESTATE & BROKERAGE INC.

    * 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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    575 Somerset Street
    Ottawa Centre , Ontario
    4 $895,000
    Get more info