$938,000
Available - For Sale
Listing ID: X13167240
474 SOMERSET Street West , Ottawa Centre, K1R 5J8, Ottawa
| 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. |
| Price | $938,000 |
| 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: | In between - Kent Street and Lyon Street |
| 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: | Office |
| Building Percentage: | T |
| Total Area: | 2809.00 |
| Total Area Code: | Square Feet |
| Retail Area Code: | % |
| Washrooms: | 0 |
| Heat Type: | Gas Forced Air Close |
| Central Air Conditioning: | Yes |
$
%
Years
This calculator is for demonstration purposes only. Always consult a professional
financial advisor before making personal financial decisions.
| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| RE/MAX HALLMARK REALTY GROUP |
|
|
.jpg?src=Custom)
Dir:
0
| Book Showing | Email a Friend |
Jump To:
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 |
Locatin Map:
Payment Calculator:
- Color Examples
- Red
- Magenta
- Gold
- Green
- Black and Gold
- Dark Navy Blue And Gold
- Cyan
- Black
- Purple
- Brown Cream
- Blue and Black
- Orange and Black
- Default
- Device Examples