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Description
Welcome to 455/457 Somerset Street West a rare opportunity to acquire a turnkey 6-unit building in one of Ottawa's most vibrant and in-demand rental locations. This well-maintained property generates a strong NOI of $119,150.56, with a 5.1% cap rate, and bonus immediate upside: 1 purposely positioned vacant unit is ready for renovation, allowing the next owner to quickly increase rental income and unlock further value. Each of the six units offers a spacious, thoughtfully designed layout that promotes long-term tenant satisfaction. With a tenant profile geared toward young professionals and transient renters, there is considerable potential to elevate rents to market levels with minimal capital investment. Situated in the heart of Centretown, steps to shops, restaurants, universities, and transit, this asset benefits from both premium location and consistent rental demand. Investors will appreciate the mix of stability and opportunity ideal for portfolio growth or as a high-performing entry into Ottawa's multi-residential market. Feature sheet available which breaks down all unit sizes and lease information. Vacant unit rent assumed in listed NOI.
Overview
Property ID:
HML-838621632651
Type:
Investment
Bathrooms:
7
Square:
5,500 ft2
Price:
$2,340,000
PropertyType:
Commercial
TransactionType:
For Sale
BuildingAreaUnits:
Square Feet
Cooling:
Partial
Heating:
Other
ParkingFeatures:
None
YearBuilt:
Unknown
TaxAnnualAmount:
18153
PossessionDetails:
TBD
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