575 Somerset Street W,Ottawa Centre, ON K1R 5K1
Ottawa Centre, ON K1R 5K1
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.
Details
| MLS # | X13758910 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | New |
| Year | 0 |
| Days On Site | 65 |
| Listing Provided By | PARADIGM COMMERCIAL REAL ESTATE & BROKERAGE INC. | X13758910 499500 |
Features
| Bath(s) | 4 |
|---|
Interior
| Cooling | Partial |
|---|
Exterior
| Community Features | Public Transit, Recreation/Community Centre |
|---|
Utilities
| Utilities | Yes |
|---|
Taxes
| Tax Annual Amount | 7562 |
|---|---|
| Tax Type | Annual |
| Tax Year | 2026 |
Area Information
| Province | ON |
|---|---|
| County | Ottawa |
| City | Ottawa Centre |
| Postal Code | K1R 5K1 |
| Area | 4102 Ottawa Centre |
| Listing VS Median (in K1R 5K1) | |
Price: $895,000 low | high Med: $35 On site: 65 low | high Med: 43 | |
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Learn More About This Property
| Province | ON |
|---|---|
| County | Ottawa |
| City | Ottawa Centre |
| Postal Code | K1R 5K1 |
| Area | 4102 Ottawa Centre |
| Listing VS Median (in K1R 5K1) | |
Price: $895,000 low | high Med: $35 On site: 65 low | high Med: 43 | |
