$18,950,000
Available - For Sale
Listing ID: X12543018
280 Laurier Avenue East , Lower Town - Sandy Hill, K1N 6P5, Ottawa
| A rare opportunity to acquire a purpose-built 40-unit building in the heart of Sandy Hill, within downtown Ottawa, delivering an impressive NOI of $715,980 and a major built-in value-add. Included with the offering is an approved, permit-ready addition directly beside the existing building, allowing for the development of 18 additional units, a future expansion opportunity exceptionally hard to find in today's market. All suites have been fully renovated since 2020, and along with the modernized finishes, unit layouts were thoughtfully optimized to improve livability and long-term rental performance. Previous ownership also completed substantial infrastructure upgrades, including hydro vault (2006), elevator rebuild to new (2010), roof (2012), lobby doors (2012), dual boilers (2014), and balcony updates (2015). These capital improvements significantly reduce near-term maintenance exposure while supporting premium furnished rents. The building offers a desirable mix of studio, one-bedroom, and two-bedroom suites, all fully furnished and with utilities included, attracting a strong and dependable tenant base of young professionals and students. Located along Laurier Avenue, the property benefits from unmatched proximity to downtown amenities, Ottawa University, government offices, and major transit corridors, making these units consistently easy to lease. This is a high-performing, centrally located multi-residential asset with a dynamic tenant pool, fully updated interiors, substantial capital improvements, and a shovel-ready expansion opportunity. |
| Price | $18,950,000 |
| Taxes: | $84209.00 |
| Tax Type: | Annual |
| Assessment Year: | 2025 |
| Occupancy: | Tenant |
| Address: | 280 Laurier Avenue East , Lower Town - Sandy Hill, K1N 6P5, Ottawa |
| Postal Code: | K1N 6P5 |
| Province/State: | Ottawa |
| Directions/Cross Streets: | Laurier & Sweetland |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 0 | |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 |
| Category: | Apartment |
| Building Percentage: | T |
| Total Area: | 9698.27 |
| Total Area Code: | Square Feet |
| Chattels: | T |
| Management Expense: | 49885 |
| Water Expense: | $0 |
| Vacancy Allowance: | 20554 |
| Net Income Before Debt: | $715980 |
| Expenses Actual/Estimated: | $Act |
| Washrooms: | 0 |
| Heat Type: | Gas Hot Water |
| Central Air Conditioning: | Partial |
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| SLEEPWELL REALTY GROUP LTD |
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At a Glance:
| Type: | Com - Investment |
| Area: | Ottawa |
| Municipality: | Lower Town - Sandy Hill |
| Neighbourhood: | 4004 - Sandy Hill |
| Tax: | $84,209 |
| Fireplace: | N |
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