455-457 Somerset Street W

Welcome to 455-457 Somerset Street W, Ottawa, a remarkable opportunity to acquire a multi-family home for sale in Ottawa. This well-maintained multiplex building boasts an impressive six-unit configuration, perfectly situated in one of the most vibrant and sought-after rental locations in the city. With a robust net operating income (NOI) of £122,631.90 and a cap rate of 5.47%, this property is not only a sound investment but also presents immediate potential for increased revenue. One of the units is purposely vacant, providing the next owner with a unique chance to renovate and enhance the rental income swiftly.

This multi-family home for sale in Ottawa features a total of 13 bedrooms, 4 dens, and 7 bathrooms, making it an ideal choice for accommodating a diverse range of tenants. The building is designed over three storeys, with a total of 29 rooms, including five kitchens and an additional kitchen, ensuring ample space for all residents. The thoughtful layout of each unit promotes long-term tenant satisfaction, appealing particularly to young professionals and transient renters. Given the current tenant profile, there is significant potential to elevate rents to market levels with minimal capital investment, making this an attractive proposition for savvy investors.

Located at 455-457 Somerset Street W, Ottawa, this property is nestled in the heart of the 4102 - Ottawa Centre community, offering easy access to a plethora of amenities. Residents will enjoy proximity to shops, restaurants, universities, and public transport, all just steps away from their front door. The vibrant surroundings contribute to the consistent rental demand that investors will find appealing. This multi-family home for sale in Ottawa is not just a property; it is a gateway to a lucrative investment opportunity in a thriving area.

The exterior of the building features a combination of brick and wood, providing a classic yet modern aesthetic that complements the surrounding architecture. Although there is no pool or fireplace, the building is equipped with radiant heating, ensuring comfort throughout the colder months. The property also benefits from municipal water and sewer services, adding to its appeal as a low-maintenance investment. With no central vacuum system and the property being unfurnished, it allows for personalisation and upgrades by the new owner, further enhancing its market value.

Parking is another advantage of this multi-family home for sale in Ottawa, with space available for up to seven vehicles. This feature is particularly beneficial in a city where parking can often be a challenge. The absence of a garage and driveway may seem like a drawback, but the ample parking space compensates for this, making it convenient for both residents and guests.

The full basement provides additional storage options, which can be a significant advantage for tenants. While there are no additional land parcels included with the property, the lot size of 58 X 112 feet offers ample space for the existing building and its facilities. The lack of extra features may seem limiting, but the core attributes of this multi-family home for sale in Ottawa are more than sufficient to attract a steady stream of tenants.

In summary, 455-457 Somerset Street W, Ottawa, represents a unique investment opportunity in a prime location. With its strong financial performance, significant potential for rental increases, and a well-thought-out design, this multi-family home for sale in Ottawa is ideal for those looking to enter or expand their presence in the multi-residential market. Interested parties are encouraged to review the feature sheet available, which provides detailed information on unit sizes and lease agreements. Don’t miss out on this exceptional chance to invest in a property that promises both stability and growth in one of Canada’s most vibrant cities.

Ottawa Centre, designated as postal code 4102, is a vibrant and diverse neighbourhood nestled in the heart of Canada’s capital, Ottawa. This area boasts a rich tapestry of cultural attractions, historic sites, and green spaces, making it an appealing choice for prospective residents. With its proximity to the Parliament Buildings, the National Gallery of Canada, and the Rideau Canal, residents can easily immerse themselves in the city’s political and artistic life. The community is well-served by public transport, offering convenient access to the rest of the city, while a variety of cafes, restaurants, and shops contribute to a lively urban atmosphere. Whether you’re drawn to its bustling streets or serene parks, Ottawa Centre presents a unique blend of city living and cultural engagement.

Schools in the Neighbourhood

This property is conveniently located near several reputable schools, making it an ideal choice for families. The closest option is Centennial Public School, just 0.4 km away, which offers elementary education from Junior Kindergarten to Grade 6 and boasts a solid rating of 4.4. For older elementary students, Glashan Public School (0.7 km) serves grades 7 to 8, although it currently has a lower rating. Elgin Street Public School, located 0.8 km away, provides a French-language curriculum for JK to Grade 6 and holds a commendable rating of 7.5. For secondary education, Lisgar Collegiate Institute, 1.2 km from the property, offers grades 9 to 12 with a strong rating of 7.9. Additionally, Hopewell Avenue Public School (2.6 km) is highly rated at 9 and offers French instruction up to Grade 8. St. Anthony School, a Catholic institution 1.1 km away, serves JK to Grade 6 with a rating of 7.5, while Immaculata High School (1.6 km) caters to grades 7 to 12 with a rating of 5.8. Overall, this area provides a diverse range of educational options for children of all ages.