Commercial listings / Investment / For sale
575 Somerset Street W, Ottawa Centre, ON K1R 5K1
$895,000
- Property type
- Investment
- Transaction
- For sale
- Location
- Ottawa Centre, Ottawa
- Lot size
- 3735 Feet
- MLS® number
- X13758910
Description
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.
Listing brokerage: PARADIGM COMMERCIAL REAL ESTATE & BROKERAGE INC.
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