522/524 Bay Street

Attention savvy investors! Here’s your chance to acquire a splendid Multi-Family Home for sale in Ottawa , located at 522/524 Bay Street, Ottawa. This remarkable property is a well-maintained multiplex that boasts a wealth of potential in the heart of the vibrant Ottawa Centre community. Nestled on a peaceful cul-de-sac, this residence is just a stone's throw away from the bustling Bank Street, the charming Glebe, and the lively downtown core.

This Multi-Family Home for sale in Ottawa features a 2-storey building style, constructed with sturdy brick that not only adds to its aesthetic appeal but also ensures durability. The property comprises a total of six bedrooms and five bathrooms, making it an ideal investment for those looking to cater to a variety of tenants. The layout includes two spacious 2-bedroom units and two generous 1-bedroom units, providing ample living space for residents. Each unit benefits from access to a sprawling unfinished basement, which offers excellent storage opportunities, perfect for tenants needing extra space.

One of the standout features of this Multi-Family Home for sale in Ottawa is the presence of four kitchens, allowing for independent living arrangements for each unit. While there is no additional kitchen or family room, the current configuration is designed to maximise functionality and comfort for tenants. Each unit is equipped with in-suite laundry facilities, ensuring convenience for all residents. Although there is no air conditioning or central vacuum system, the forced air heating keeps the home warm during the colder months.

The property is unfurnished, allowing new owners to personalise the space to their liking. Additionally, there is no garage or designated parking space, but the location compensates for this with exceptional walkability to local shops, restaurants, public transit, and a host of amenities. The absence of a pool and fireplace may be seen as a drawback, yet the benefits of this Multi-Family Home for sale in Ottawa far outweigh these minor inconveniences.

With a total of 18 rooms and six additional rooms, this property is a treasure trove for investors. The 100+ year-old building sits on a generous lot measuring 41 x 71 feet, providing plenty of outdoor space for tenants to enjoy. The property is connected to municipal water and sewer systems, ensuring reliable utilities for all residents.

This Multi-Family Home for sale in Ottawa is uniquely versatile. Investors have the option to maintain the current four-unit layout, owner-occupy unit 1-524 as a pied-à-terre, or set their own rent with a future tenant. Furthermore, there is the exciting possibility of severing the property into two parcels, as each half of the building has its own water supply and sewer line, presenting a unique investment opportunity.

With stable tenants already in place and minimal groundskeeping required, this established income property is a healthy addition to any investment portfolio, boasting a strong cap rate. The location is one of Ottawa's most sought-after rental areas, making this Multi-Family Home for sale in Ottawa an enticing prospect for those looking to invest confidently in real estate.

In conclusion, if you are an investor seeking a promising opportunity, look no further than 522/524 Bay Street, Ottawa. This property is not just a house; it’s a gateway to a lucrative investment in a thriving community. Don’t miss out on this exceptional Multi-Family Home for sale in Ottawa—schedule a viewing today and explore the endless possibilities that await! Please note that some photos have been virtually staged, and all offers will require a 24-hour irrevocable period.

Ottawa Centre, designated as postal code 4103, is a vibrant and diverse neighbourhood nestled in the heart of Canada’s capital, Ottawa. This area boasts a rich tapestry of cultural and historical landmarks, with easy access to the stunning Rideau Canal and the bustling ByWard Market, renowned for its eclectic shops and eateries. Residents enjoy a lively urban atmosphere, complemented by an array of parks and green spaces, perfect for leisurely strolls or outdoor activities. The community is well-served by public transport, making it convenient to explore the wider city. With its blend of modern amenities and historic charm, Ottawa Centre offers an inviting environment for anyone looking to make it their home.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. Within a short distance, you will find Cambridge Street Community Public School (0.5 km) and Glashan Public School (0.4 km), both offering elementary education in English for grades JK to 8. For secondary education, Glebe Collegiate Institute is just 0.8 km away, boasting a strong school rating of 7.7, catering to grades 9 to 12. Additionally, Elgin Street Public School (1.0 km) and Hopewell Avenue Public School (2.1 km) provide French-language education, with Hopewell achieving an impressive rating of 8. St. Anthony School, a Catholic institution (0.8 km), serves grades JK to 6 with a rating of 6.6, while Immaculata High School (1.5 km) offers Catholic secondary education for grades 7 to 12, rated at 7.4. The variety of nearby schools, including both public and Catholic options, ensures that families have access to quality education tailored to their preferences. This accessibility not only enhances the community feel but also supports a well-rounded upbringing for children in the area.