$988,000
Available - For Sale
Listing ID: X12671378
474 SOMERSET Street West , Ottawa Centre, K1R 5J8, Ottawa
| Potential Gross Income (when fully rented): $116,832/year. HIGH-RETURN INVESTMENT | PRIME CENTRETOWN LOCATION | DEVELOPMENT POTENTIAL. With a walk score of 99/100, this Unique opportunity in the heart of Centretown, Central Ottawa - a high-performing commercial-residential investment property offering strong existing income with exceptional future development upside. Zoned TM14 H(20), this flexible zoning permits a wide range of commercial, mixed-use, and multi-residential possibilities with allowable building heights up to 20 metres, making this an attractive acquisition for developers and long-term investors alike.Situated on a 29 x 110 ft lot with 5 rear parking spaces, the property benefits from unbeatable urban walkability surrounded by transit, employment hubs, parks, restaurants, and downtown amenities - a location consistently in demand with tenants and future redevelopment prospects.The property is currently operated as individual residential rentals and has undergone over $100,000 in renovations, optimizing rental performance and tenant appeal. It generates strong cash flow while providing investors flexibility to reposition, redevelop, or hold for long-term appreciation. The asset benefits from continued rental demand driven by Ottawa's population growth and urban intensification, making it ideal for investors seeking both immediate income and future upside.A rare opportunity to secure a high-yield property in one of Ottawa's most desirable urban investment corridors.Contact listing agent for financials, additional photos, and private viewing. *Offers welcome* |
| Price | $988,000 |
| Taxes: | $12984.16 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 474 SOMERSET Street West , Ottawa Centre, K1R 5J8, Ottawa |
| Postal Code: | K1R 5J8 |
| Province/State: | Ottawa |
| Legal Description: | PT LT 25, PL 27267 , S/S SOMERSET ST AS |
| Lot Size: | 8.84 x 110.00 (Feet) |
| Directions/Cross Streets: | From Queensway E: take Catherine Street exit, turn right onto Bank, then left onto Somerset Street |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
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| Washroom Type 40 | 0 | |
| Washroom Type 41 | 0 | |
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| Washroom Type 55 | 0 | |
| Washroom Type 56 | 0 | |
| Washroom Type 57 | 0 | |
| Washroom Type 58 | 0 | |
| Washroom Type 59 | 0 | |
| Washroom Type 60 | 0 | |
| Washroom Type 61 | 0 | |
| Washroom Type 62 | 0 | |
| Washroom Type 63 | 0 | |
| Washroom Type 64 | 0 | |
| Washroom Type 65 | 0 | |
| Washroom Type 66 | 0 | |
| Washroom Type 67 | 0 | |
| Washroom Type 68 | 0 | |
| Washroom Type 69 | 0 | |
| Washroom Type 70 | 0 |
| Category: | Office |
| Building Percentage: | T |
| Total Area: | 2809.00 |
| Total Area Code: | Square Feet |
| Office/Appartment Area: | 2535 |
| Office/Appartment Area Code: | Sq Ft |
| Retail Area Code: | % |
| Washrooms: | 0 |
| Heat Type: | Gas Forced Air Close |
| Central Air Conditioning: | Yes |
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| RE/MAX HALLMARK REALTY GROUP |
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At a Glance:
| Type: | Com - Investment |
| Area: | Ottawa |
| Municipality: | Ottawa Centre |
| Neighbourhood: | 4103 - Ottawa Centre |
| Lot Size: | 8.84 x 110.00(Feet) |
| Tax: | $12,984.16 |
| Fireplace: | N |
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