182 Murray Street

Presenting an exceptional investment opportunity, this Multi-Family Home for sale in Ottawa is located at 182 Murray Street, Ottawa, in the desirable Lower Town/Byward Market community. This meticulously maintained multiplex boasts a well-thought-out design, featuring a total of 15 rooms across its two-storey layout. With six bedrooms and three dens, this property is ideal for those seeking a versatile living arrangement or a lucrative rental investment.

The property is structured as a triplex, comprising three separate units, each equipped with three kitchens, allowing for a functional and comfortable living experience. While there is no additional kitchen beyond the three provided, the layout ensures that each unit is self-sufficient. The bathrooms are well-appointed, with a total of three bathrooms across the entire building, catering to the needs of residents and guests alike.

Situated on a lot measuring 33 by 106 feet, this Multi-Family Home for sale in Ottawa offers ample outdoor space, although it does not feature a pool or a garage. However, there is a private driveway available, providing parking for up to five vehicles, which is a significant advantage in this bustling urban area. The absence of a central vacuum system, fireplace, and air conditioning is compensated by the building's forced air heating system, ensuring a comfortable environment throughout the seasons.

One of the standout features of this property is its location. 182 Murray Street, Ottawa, is nestled in a vibrant community that offers a plethora of amenities and attractions. Residents will appreciate the convenience of being close to various shops, restaurants, and recreational facilities, making it an attractive option for potential tenants. The area is well-served by public transport, further enhancing its appeal as a rental property.

As a Multi-Family Home for sale in Ottawa, this property presents a compelling opportunity for investors. The estimated rental income for each unit ranges from approximately £3,600 to £4,800 per month, depending on market conditions and tenant demand. This income potential, combined with the quality construction and thoughtful design, makes it a valuable asset for those looking to invest in the Ottawa real estate market.

The building's exterior features durable aluminium siding, ensuring low maintenance while maintaining an appealing aesthetic. Although the property is being sold unfurnished, there may be select furnishings available for purchase through separate negotiation, providing additional flexibility for prospective buyers.

The absence of a basement may be seen as a drawback by some; however, the layout of the units maximises the use of space, making it a practical choice for families or groups of individuals seeking a comfortable living arrangement. The presence of a family room in each unit enhances the communal feel of the property, making it a welcoming environment for residents.

In summary, this Multi-Family Home for sale in Ottawa at 182 Murray Street, Ottawa, is a remarkable investment opportunity. With its prime location, extensive renovation, and strong income potential, it stands out as a versatile property suitable for both traditional and alternative rental configurations. Whether you are an experienced investor or new to the market, this property offers long-term value and flexibility, making it a wise choice for those looking to expand their real estate portfolio in the heart of Ottawa. Don’t miss the chance to explore this exceptional property, as opportunities like this are rare in such a sought-after community.

Lower Town/Byward Market, located in the heart of Ottawa, is a vibrant and historic neighbourhood that seamlessly blends urban charm with a rich cultural tapestry. Renowned for its bustling market, the Byward Market offers an array of fresh produce, artisanal goods, and eclectic eateries, making it a delightful hub for food lovers and socialites alike. The area is characterised by its charming cobblestone streets, historic architecture, and a lively atmosphere, particularly during weekends when local artisans and vendors showcase their wares. Residents enjoy easy access to a variety of amenities, including parks, galleries, and nightlife, all while being within walking distance of the city’s key attractions. With its unique blend of history and modernity, Lower Town/Byward Market presents an inviting and dynamic environment for those seeking a vibrant urban lifestyle.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. The closest school is York Street Public School, just 0.6 km away, offering elementary education from JK to grade 6 with a solid rating of 5.2. For older elementary students, Glashan Public School is 2.4 km away, although it currently has a rating of 0. Secondary education options include Lisgar Collegiate Institute, located 1.2 km from the property, which boasts a commendable rating of 7.9, and Immaculata High School, 2.5 km away, rated at 5.8. Additionally, Elgin Street Public School, 1.7 km away, offers a French-language program for JK to grade 6 with a rating of 7.5, while Hopewell Avenue Public School, 4.2 km away, provides a French curriculum for JK to grade 8 and has an impressive rating of 9. St. Brigid School, a Catholic institution 1.9 km away, serves grades JK to 6 and has a rating of 5.5. Overall, the area offers a diverse range of schooling options in both English and French, catering to various educational needs and preferences.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 465 residents, with an average household size of 1.5 individuals. The community is characterized by a relatively mature demographic, with an average age of 41 years. The average household income stands at $63,600, though a significant 32% of the population is classified as low-income. The real estate market reflects a median property price of $560,000, and the majority of residents, approximately 76.19%, are single. Families with children make up only 12.5% of households, indicating a predominantly adult community. The area has a notable immigrant presence, accounting for one-third of the population (33.33%). A high percentage of residents are renters (87.72%), with condos representing a modest 5.26% of the housing options available. Education levels are impressive, with 72% of the population holding a college or university degree. However, 36% of residents are not actively participating in the labor force, suggesting potential challenges in employment opportunities. Overall, this demographic profile indicates a community that is educated, predominantly single, and heavily reliant on rental housing.