About 575 Somerset Street W
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.
Features of 575 Somerset Street W
| MLS® # | X13758910 |
|---|---|
| Price | $895,000 |
| Bathrooms | 4.00 |
| Type | Commercial |
| Sub-Type | Investment |
| Status | Active |
Community Information
| Address | 575 Somerset Street W |
|---|---|
| Area | Ottawa |
| Subdivision | 4102 - Ottawa Centre |
| City | Ottawa Centre |
| Province | ON |
| Postal Code | K1R 5K1 |
Amenities
| Parking Spaces | 4 |
|---|---|
| Garages | Outside/Surface |
| Is Waterfront | No |
Interior
| Heating | Gas Forced Air Open |
|---|---|
| Cooling | Partial |
| Fireplace | No |
Listing Details
| Office | PARADIGM COMMERCIAL REAL ESTATE & BROKERAGE INC. |
|---|