7 Lowrey Street

Introducing a remarkable opportunity to acquire a Multi-Family Home for sale in Ottawa , situated at 7 Lowrey Street, Ottawa. This well-maintained duplex is positioned on an oversized lot measuring 66 feet by 99 feet, making it an exceptional investment for both investors and developers alike. The property is located just 350 metres from the Bayview O-Train stop, which is a mere five-minute walk, ensuring excellent connectivity to the city. The zoning classification of R4UB allows for significant development potential, with the possibility of constructing a four-storey, eight-unit building (subject to buyer verification).

This Multi-Family Home for sale in Ottawa boasts two updated two-bedroom units. Unit 1 has been thoughtfully renovated and features one bathroom along with in-unit laundry facilities. Currently, this unit is leased on a month-to-month basis to a reliable long-term tenant, generating a rental income of £1,600 per month. Unit 2 has been owner-occupied for an impressive 25 years and is projected to command a rental price between £2,400 and £2,500 per month. This unit is particularly appealing, as it includes two balconies that offer stunning views of the downtown skyline and the picturesque Gatineau Hills.

The property is not only well-maintained but has also seen significant upgrades over the years. A new furnace was installed in 2023, ensuring efficient heating for the coming years. The central air conditioning system, which was updated around 2013, provides comfort during the warmer months. The roof was also replaced around the same time, alongside updates to the sewer, drain, and water lines, as well as a complete rewiring of the electrical system. These enhancements contribute to the overall appeal and functionality of this Multi-Family Home for sale in Ottawa.

In terms of layout, the building is a two-storey multiplex, featuring a total of ten rooms, including two kitchens—ideal for a multi-family setup. However, it is important to note that there is no den or additional rooms beyond the specified layout. The property is unfurnished, allowing new owners to personalise the space to their liking. Additionally, there is no central vacuum system, and the absence of a family room may be noted; however, the spacious design compensates for these aspects.

The exterior of the property is clad in durable vinyl siding, which not only enhances its aesthetic appeal but also ensures low maintenance. The lot itself is sizeable, providing ample outdoor space, although there is no pool on the premises. For those with vehicles, there is a detached garage space available, alongside a private double driveway that accommodates up to two parking spaces.

This Multi-Family Home for sale in Ottawa represents a prime development opportunity in the thriving community of Hintonburg. With its strategic location in Ottawa and the potential for future development, this property is a rare find in a fast-growing area. The strong rental potential, coupled with the significant upside for development, makes this an enticing proposition for any investor or developer looking to capitalise on the burgeoning real estate market.

In summary, 7 Lowrey Street, Ottawa, is a well-maintained duplex that offers a unique blend of immediate rental income and future development possibilities. With its two updated units, strategic location, and numerous upgrades, this Multi-Family Home for sale in Ottawa is not to be missed. Whether you are looking to invest or develop, this property is poised to meet your needs and exceed your expectations. Seize this opportunity today!

Hintonburg, located in the vibrant city of Ottawa, is a charming neighbourhood that beautifully blends urban convenience with a strong sense of character. Known for its eclectic mix of historic homes and contemporary developments, this area boasts a lively arts scene, with numerous galleries, studios, and local markets that reflect the creative spirit of its residents. The streets are lined with an array of cafés, restaurants, and boutique shops, making it a delightful place for leisurely strolls. With its close proximity to downtown Ottawa and ample green spaces, Hintonburg offers a unique lifestyle that appeals to both young professionals and families alike, making it an ideal choice for anyone looking to immerse themselves in a dynamic and welcoming environment.

Schools in the Neighbourhood

This property is conveniently located near several reputable schools, making it an excellent choice for families. The closest option is Devonshire Community Public School, just 0.5 km away, offering French-language instruction for grades JK to 6, and boasting a strong school rating of 8.3. Connaught Public School, located 0.7 km away, provides English-language education for grades JK to 6, with a solid rating of 7.1. For older students, Glebe Collegiate Institute is a secondary school situated 2.3 km from the property, rated at 7.7, catering to grades 9 to 12. Summit Alternative School and Fisher Park Public School are both within 1.2 km, serving grades 7 to 8, though they currently have no ratings. Additionally, St. Anthony School, a Catholic institution offering grades JK to 6, is located 1.3 km away with a rating of 6.6. Lastly, Immaculata High School, also Catholic, is 3.6 km away and serves grades 7 to 12, rated at 7.4. Overall, the area offers a diverse range of educational options, ensuring quality schooling for children of all ages.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 818 residents, with an average household size of 1.7. The demographic profile reveals a relatively young community, with an average age of 36.2 years. The average household income stands at $105,200, indicating a prosperous environment, although 10.2% of the population is classified as low-income. The housing market reflects this affluence, with an average property price of $760,000. The community is predominantly single, comprising 50.34% of the population, and 22.5% of households include children. Additionally, 16.56% of residents are immigrants, contributing to the area's cultural diversity. A significant majority of the population, 73.4%, are renters, with only 3.19% living in condominiums. Education levels are notably high, with 87.92% of residents holding a college or university degree. However, 13.42% of the population is not in the labor force, which may reflect a variety of factors including education, retirement, or other personal circumstances. Overall, this area presents a vibrant community with a mix of demographics, educational attainment, and economic status, making it an attractive location for potential residents.