$995,000
Available - For Sale
Listing ID: X13086366
575 Somerset Street West , Ottawa Centre, K1R 5K1, Ottawa
| 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. |
| Price | $995,000 |
| Taxes: | $7562.00 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 575 Somerset Street West , Ottawa Centre, K1R 5K1, Ottawa |
| Postal Code: | K1R 5K1 |
| Province/State: | Ottawa |
| Directions/Cross Streets: | Lyon St N and Bay St. |
| 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 |
| Category: | Apartment |
| Use: | Apts - 2 To 5 Units |
| Building Percentage: | T |
| Total Area: | 0.00 |
| Total Area Code: | Square Feet |
| Area Influences: | Public Transit Recreation/Comm |
| Water Expense: | $1400 |
| Expenses Actual/Estimated: | $Est |
| Washrooms: | 4 |
| Heat Type: | Gas Forced Air Open |
| Central Air Conditioning: | Partial |
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| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| PARADIGM COMMERCIAL REAL ESTATE & BROKERAGE INC. |
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Dir:
647-472-6050
Bus:
905-709-7408
Fax:
905-709-7400
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Investment |
| Area: | Ottawa |
| Municipality: | Ottawa Centre |
| Neighbourhood: | 4102 - Ottawa Centre |
| Tax: | $7,562 |
| Baths: | 4 |
| Fireplace: | N |
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