189 Preston Street

Introducing a remarkable investment opportunity: a Multi-Family Home for sale in Ottawa , located at 189 Preston Street, Ottawa. This classic 1930s duplex, nestled in the vibrant neighbourhood of West Centre Town, is poised to attract discerning buyers looking for both immediate rental income and future growth potential. With its prime position on Preston Street, this property is surrounded by ongoing development and is situated in one of Ottawa's most culturally rich areas.

The property boasts a solid brick exterior, reflecting its enduring quality, and features a two-storey building style that enhances its appeal. With a total of four bedrooms and two bathrooms, this Multi-Family Home for sale in Ottawa offers ample space for families or tenants. The two kitchens are a significant advantage, allowing for self-contained living arrangements within each unit, which is particularly appealing for those looking to maximise rental income.

At 189 Preston Street, Ottawa, you will find a total of eight rooms, providing a generous layout for comfortable living. The family room is a perfect space for relaxation and gatherings, while the central air conditioning ensures a pleasant atmosphere throughout the year. Although there is no fireplace or pool, the property compensates with its full, partially finished basement, offering additional storage or potential for further development.

Parking is made easy with a private driveway accommodating two vehicles, and a detached garage adds further convenience. The lot measures 23 by 103 feet, providing a manageable outdoor space without overwhelming maintenance requirements. The property is connected to municipal water and sewer systems, which adds to its appeal for prospective buyers.

This Multi-Family Home for sale in Ottawa is not just a property; it is a strategic investment in a rapidly appreciating area. The flexible TM zoning allows for various possibilities, whether you choose to maintain and update the existing duplex or explore redevelopment options, such as creating a mixed-use commercial space with residential units above. The potential for future growth is significant, making this an enticing opportunity for investors seeking long-term gains.

The location of 189 Preston Street, Ottawa, is simply unbeatable. Within walking distance, residents can enjoy a plethora of restaurants, cafés, and shops, as well as the scenic Dows Lake and Lebreton Flats. The convenience of access to the Light Rail Transit (LRT) system and downtown Ottawa enhances the attractiveness of this property, making it easy for tenants to live locally and commute effortlessly.

Having been owned by the same family for over 40 years, this well-established property has a rich history and a strong sense of community. The steady rental income potential available today, combined with the promising redevelopment upside for the future, makes this Multi-Family Home for sale in Ottawa a compelling choice for savvy investors.

Flexible closing options are available, allowing you to tailor the purchase to your needs. Don’t miss out on this exceptional opportunity to secure a property that not only offers immediate benefits but also significant long-term potential. Book your showing today at 189 Preston Street, Ottawa, and explore the possibilities that await you in this vibrant urban setting. Whether you are an experienced investor or a first-time buyer, this Multi-Family Home for sale in Ottawa is a prospect you won’t want to overlook.

West Centre Town, nestled in the heart of Ottawa, is a vibrant and diverse neighbourhood that seamlessly blends urban convenience with a welcoming atmosphere. Characterised by its charming tree-lined streets and a mix of historic and modern architecture, this area offers a unique living experience. Residents enjoy easy access to a variety of amenities, including local shops, cafes, and parks, all within a short stroll or bike ride. The community is well-connected to public transport, making it easy to explore the wider city. With a rich cultural scene and a strong sense of community spirit, West Centre Town is an ideal place for those seeking a dynamic urban lifestyle while still feeling at home.

Schools in the Neighbourhood

This property is conveniently located near a variety of educational institutions, catering to different age groups and language preferences. The closest school is R.H. Murray Public School, just 0.8 km away, offering grades K to 8 under the Rainbow District School Board. For secondary education, Glebe Collegiate Institute is 1.3 km from the property, rated 7.7, while Immaculata High School, a Catholic institution, is 2.6 km away, rated 5.8. For younger students, Devonshire Community Public School, located 0.5 km away, provides French instruction for grades JK to 6 and boasts a high rating of 8.5. St. Anthony School, a Catholic elementary school, is even closer at 0.3 km, rated 7.5, serving grades JK to 6. Additionally, Fisher Park Public School offers grades 7 to 8 in French and is 1.8 km away. This diverse array of nearby schools, with varying ratings and educational focuses, ensures that families have ample options for their children's education, making this property an attractive choice for buyers with school-aged children.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 584 residents, with an average household size of 1.8. The demographic profile indicates a relatively youthful community, with an average age of 37.6 years. The average household income stands at $98,400, though 13.2% of the population is classified as low-income. Housing in the area is characterized by an average price of $660,000, and a significant portion of the population, 61.54%, are renters, highlighting a strong rental market. Single individuals make up 56.19% of the population, while households with children account for 25.93%. The community is also diverse, with 22.14% of residents being immigrants. Educational attainment is notably high, with 69.6% of the population holding a college or university degree. However, 24% of residents are not in the labor force, which may impact the local economy. Additionally, condos represent 12.31% of the housing market, suggesting a mix of property types available in the area. Overall, this demographic snapshot reflects a vibrant, educated community with a mix of families and singles, alongside a robust rental market.