Mirna Botros

613-600-2626

474 Somerset Street - $988,000

474 Somerset Street

$988,000

4103 - Ottawa Centre

Ottawa, OntarioK1R5J8

0 beds

0 baths

5 parking

MLS#: X12671378Listed: 3 months agoUpdated:22 days ago

Description

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* (id:58075)

Details

Details for 474 Somerset Street, Ottawa, Ontario

Property Type: Office
Building Type: Offices
Storeys: -
Neighborhood: 4103 - Ottawa Centre
Land Size: Bldg=29 x 110 FT ; 0
Year Built: -
Annual Property Taxes: $12,984
Parking Type: -

Inside

Appliances: Furniture
Rooms: -
Bedrooms: -
Bathrooms: 0
Fireplace: -
Fireplace Total: -
Basement: -

Building

Architecture Style: -
Direction: Cross Streets: From Queensway E: take Catherine Street exit, turn right onto Bank, then left onto Somerset Street W. From Queensway W: Take exit at Kent Street. Turn left onto Somerset Street W. building will be on left . ** Directions: Bank St to Somerset St W.
Type of Dwelling: offices
Roof: -
Exterior: -
Foundation: -
Flooring: -