421 Gilmour Street

Introducing a remarkable investment opportunity: a Multi-Family Home for sale in Ottawa , located at 421 Gilmour Street, Ottawa. This beautifully renovated 3-storey multiplex building is situated in the prestigious area of Centretown, nestled between Kent and Bank streets. With a generous lot size of 44 x 109 feet, this property is a prime example of versatility and potential, making it an ideal choice for those seeking to invest in a Multi-Family Home for sale in Ottawa.

This property boasts a total of nine rooms, including one kitchen and three bathrooms, providing ample space for future tenants or occupants. The building is unfurnished, allowing for a blank canvas where new owners can implement their vision and style. The absence of bedrooms and a den suggests that the space is currently configured for commercial use, which can easily be converted into a multi-unit residence, such as a triplex or fourplex. This flexibility is a significant advantage for anyone looking to maximise their investment in this Multi-Family Home for sale in Ottawa.

The exterior of the building is constructed from durable brick, ensuring longevity and minimal maintenance. The property underwent a full interior and exterior renovation in 2022, which included the installation of luxury vinyl flooring and soundproofing, along with updated electrical systems. A new roof was installed in 2020, further enhancing the building's appeal and reducing future maintenance costs. These renovations not only elevate the aesthetic of the property but also contribute to its overall value, making it a standout option in the competitive Ottawa real estate market.

One of the key features of this Multi-Family Home for sale in Ottawa is the on-site parking available for six to seven cars. This is a significant asset, particularly in a bustling urban environment where parking can often be a challenge. The property also benefits from ample street parking and includes a wheelchair-accessible ramp, ensuring convenience for all potential tenants. This accessibility feature is not only a legal requirement but also adds considerable value to the property, making it more attractive to a wider range of occupants.

The building is equipped with wall unit air conditioning, providing comfort during the warmer months, while the heating system operates on water, ensuring a warm and inviting atmosphere throughout the colder seasons. Although there is no central vacuum system or family room, the layout of the property allows for creative reconfiguration to meet the needs of future tenants. The unfinished basement presents an additional opportunity for development, whether for storage or further living space, allowing new owners to tailor the property to their specific requirements.

Located in the vibrant community of 4103 - Ottawa Centre, this Multi-Family Home for sale in Ottawa is surrounded by a plethora of amenities, including shops, restaurants, and public transport options. The area is known for its lively atmosphere and accessibility, making it a desirable location for potential tenants. The strong income potential from this property, combined with its extensive renovations and flexible GM zoning, positions it as a truly rare find in the Ottawa real estate market.

In summary, 421 Gilmour Street, Ottawa, presents an exceptional opportunity for investors looking to acquire a Multi-Family Home for sale in Ottawa. With its strategic location, recent renovations, and potential for conversion into multiple residential units, this property is poised to deliver both immediate and long-term returns. Don't miss your chance to invest in this outstanding property, where the possibilities are as vast as your imagination.

Ottawa Centre, designated as postal code 4103, is a vibrant and centrally located neighbourhood in the heart of Canada’s capital city, Ottawa. This area boasts a rich tapestry of cultural diversity, with an array of shops, restaurants, and recreational facilities that cater to a variety of tastes and lifestyles. Residents enjoy easy access to beautiful parks, the scenic Rideau Canal, and a wealth of historical landmarks, making it an ideal spot for those who appreciate both urban living and natural beauty. The community is well-served by public transport, ensuring convenient connectivity to other parts of the city, while its lively atmosphere and welcoming spirit make it an attractive place to call home.

Schools in the Neighbourhood

This property is conveniently located near several reputable schools, making it an excellent choice for families. Within a short distance, you will find Centennial Public School (0.7 km), an English-language elementary school rated 4.4, and Glashan Public School (0.6 km), which serves grades 7 to 8, though it currently has no rating. For secondary education, Lisgar Collegiate Institute (1.0 km) offers grades 9 to 12 and boasts a strong rating of 7.9. Additionally, Elgin Street Public School (0.5 km) provides French-language instruction for grades JK to 6 and has a commendable rating of 7.5. Hopewell Avenue Public School (2.5 km) is another excellent option, rated 9 and offering French-language education from JK to 8. St. Anthony School (1.3 km), a Catholic elementary school, also has a solid rating of 7.5, while Immaculata High School (1.3 km) serves grades 7 to 12 with a rating of 5.8. With a diverse range of educational options nearby, this location is ideal for families seeking quality schooling for their children.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small population of 585 residents, with an average household size of 1.4 individuals. The community has a median age of 44.3 years, indicating a mature population. Economic indicators show an average household income of $31,300, with a significant 52.8% of residents classified as low-income. The housing situation is predominantly rental, with an impressive 98.75% of households renting their homes, while there are no condominiums present in the area. The majority of the population is single, comprising 78.18%, and only 18.75% of households include children. A notable 37.5% of the residents are immigrants, contributing to the area's cultural diversity. Educational attainment is relatively high, with 46.24% of the population holding a college or university degree. However, a significant portion of the population, 59.14%, is not actively participating in the labor force, which may reflect economic challenges within the community. Overall, this area presents a unique demographic landscape characterized by a high percentage of renters, a mature age profile, and a substantial immigrant presence.