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$2,340,000
Est. payment /mo
7 Baths
5,500 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 5,500 sqft
Price per Sqft $425
Subdivision 4102 - Ottawa Centre
MLS Listing ID X12231113
Annual Tax Amount $18,153
Tax Year 2024
Property Sub-Type Investment
Lot Depth 112.37
Lot Front 57.95
Property Description
Welcome to 455/457 Somerset Street West a rare opportunity to acquire a turnkey 6-unit building in one of Ottawa's most vibrant and in-demand rental locations. This well-maintained property generates a strong NOI of $119,150.56, with a 5.1% cap rate, and bonus immediate upside: 1 purposely positioned vacant unit is ready for renovation, allowing the next owner to quickly increase rental income and unlock further value. Each of the six units offers a spacious, thoughtfully designed layout that promotes long-term tenant satisfaction. With a tenant profile geared toward young professionals and transient renters, there is considerable potential to elevate rents to market levels with minimal capital investment. Situated in the heart of Centretown, steps to shops, restaurants, universities, and transit, this asset benefits from both premium location and consistent rental demand. Investors will appreciate the mix of stability and opportunity ideal for portfolio growth or as a high-performing entry into Ottawa's multi-residential market. Feature sheet available which breaks down all unit sizes and lease information. Vacant unit rent assumed in listed NOI.
Location
Province ON
County Ottawa
Community 4102 - Ottawa Centre
Area Ottawa
Zoning TM14
Interior
Cooling Partial
Inclusions 6 Fridges, 6 stoves, 3 dishwashers, 1 stacking set washer/dryer, 1 stacking set coin op washer/dryer, 1 combo washer/dryer.
Exterior
Utilities Available Yes
Lot Frontage 57.95
Lot Depth 112.37
Others
Security Features No
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Listed by SLEEPWELL REALTY GROUP LTD