184 Murray Street

Welcome to 184 Murray Street, Ottawa, a remarkable opportunity for investors seeking a Multi-Family Home for sale in Ottawa . This fully renovated freehold multiplex is situated just a stone's throw away from the vibrant energy of Ottawa's historic Lower Town and the bustling Byward Market. With its prime location, this property is not only a sound investment but also a gateway to the dynamic lifestyle that Ottawa has to offer.

This impressive building spans three storeys and boasts a total of 20 rooms, including an incredible eight bedrooms spread across four fully renovated units. The configuration includes two spacious three-bedroom apartments and two chic one-bedroom units, making it an ideal choice for those looking to attract high-quality tenants in today's competitive rental market. The potential for short-term rentals, such as Airbnb, is also significant, providing flexibility for investors keen on maximising their returns. This is truly a Multi-Family Home for sale in Ottawa that offers diverse opportunities for income generation.

As you explore 184 Murray Street, Ottawa, you'll notice the extensive renovations that have been meticulously carried out throughout the property. Each unit is equipped with brand-new ductless air conditioning and heating systems, ensuring comfort year-round. The flooring has been upgraded in three of the units, featuring stylish tile and durable laminate, while all four kitchens have been fully updated with new plumbing and modern appliances. Additionally, the four bathrooms have been refurbished with new water and drain lines, showcasing the attention to detail that has gone into this property.

Safety and efficiency are paramount at this Multi-Family Home for sale in Ottawa. The building features fire-rated doors, interconnected smoke and strobe detectors, and a new 400-amp hydro service with five separate meters, ensuring peace of mind for both tenants and owners alike. Furthermore, the property includes a new laundry room and modern LED lighting throughout, adding to the overall appeal and functionality of the space.

Located on a generous lot measuring 33 by 105 feet, 184 Murray Street, Ottawa, offers private parking for up to seven vehicles, with four designated spots available for tenants at approximately £150 per month each, contributing an additional £600 to your monthly income. This feature is particularly advantageous given the demand for parking in this vibrant area.

While the property is currently unfurnished, the seller is open to including furnishings, which could greatly simplify the setup process for potential Airbnb or executive rentals. This flexibility allows investors to tailor the property to their specific needs, making it an even more attractive Multi-Family Home for sale in Ottawa.

The location of 184 Murray Street, Ottawa, is another significant advantage. Close to public transit, shopping, and a variety of restaurants, this property is perfectly positioned to attract a diverse range of tenants. Moreover, its proximity to the University of Ottawa adds to its desirability, ensuring a steady stream of potential renters looking for quality accommodation in a prime location.

In summary, 184 Murray Street, Ottawa, is not just a property; it’s an exceptional investment opportunity. With its fully renovated units, modern amenities, and strategic location, this Multi-Family Home for sale in Ottawa is primed to deliver both immediate returns and long-term value. Whether you’re a seasoned investor or just starting out, this property is a must-see. Don’t miss your chance to secure a premium asset in one of Ottawa’s most dynamic urban hubs!

Lower Town/Byward Market is a vibrant and historic neighbourhood nestled in the heart of Ottawa, offering a unique blend of culture, commerce, and community spirit. Renowned for its bustling Byward Market, the area is alive with an array of shops, cafes, and restaurants, showcasing local produce and artisanal goods. The cobblestone streets are lined with charming heritage buildings, creating a picturesque backdrop for leisurely strolls. Residents enjoy easy access to the Rideau Canal, parks, and cultural attractions, making it an ideal locale for those who appreciate a lively urban atmosphere infused with a rich sense of history. With a diverse population and a plethora of events throughout the year, Lower Town/Byward Market is a dynamic place to call home.

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 respectable school rating of 5.2. For older elementary students, Glashan Public School is located 2.4 km away, although it currently has a school rating of 0. For secondary education, Lisgar Collegiate Institute, situated 1.2 km from the property, boasts a commendable rating of 7.9. Additionally, Elgin Street Public School (1.7 km away) and Hopewell Avenue Public School (4.2 km away) provide French-language instruction for younger students, with Hopewell Avenue receiving an impressive rating of 9. St. Brigid School, a Catholic institution 1.9 km away, serves grades JK to 6 with a rating of 5.5, while Immaculata High School, 2.5 km away, caters to grades 7 to 12 and has a rating of 5.8. Overall, the area offers a diverse range of educational options, ensuring that families have access to quality schooling for their children.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small population of 465 residents, characterized by an average household size of 1.5 individuals. The community has a median age of 41 years, with a significant portion of the population (76.19%) being single. The average household income stands at $63,600, although 32% of residents are classified as low-income. The housing market reflects an average price of $560,000, with a high percentage of renters (87.72%) and only 5.26% of households owning condominiums. Families with children are relatively few, comprising only 12.5% of households. Additionally, the area has a notable immigrant presence, making up 33.33% of the population, and a well-educated demographic, with 72% holding a college or university degree. However, a significant portion of the population (36%) is not participating in the labor force, indicating potential economic challenges. Overall, this area presents a unique blend of demographics that may appeal to specific buyer segments, particularly those looking for a rental investment or a community with a diverse and educated population.