74 Preston Street

Welcome to 74 Preston Street, Ottawa, a fantastic opportunity for investors seeking a Multi-Family Home for sale in Ottawa . This charming duplex, located in the vibrant community of 4204 - West Centre Town, offers exceptional income potential and a range of versatile options to suit your needs. Whether you're looking to live in one unit while renting out the other or wanting to maximise your revenue by renting both, this property has you covered.

As you approach 74 Preston Street, Ottawa, you'll notice the classic brick exterior of this 2-storey multiplex, which has stood the test of time for over 100 years. The building's age adds character and charm, making it a unique addition to the neighbourhood. The lot measures 16 X 74 feet, providing ample space for the duplex while maintaining a manageable footprint.

Inside, the property features a total of eight rooms, including three bedrooms in the main-floor unit and a den that can be used for various purposes. The main-floor three-bedroom unit is currently a blank slate, allowing you to tailor it to your specifications, whether that means renovating it for rental purposes or making it your own. Before the previous tenant moved out in September 2024, this unit generated an impressive $2,095 in rent, showcasing its potential for a solid return on investment.

The second-floor unit is a one-bedroom space that is move-in ready, having undergone a full renovation in 2019. It boasts a modern kitchen and bathroom, both fully updated to meet contemporary standards. With convenient in-unit laundry facilities and a window air conditioning unit for added comfort, this unit is sure to attract tenants looking for a comfortable living space. Previously, it brought in $1,654 in rent, further solidifying this property as a Multi-Family Home for sale in Ottawa that promises excellent income potential.

While the property does not include a pool or a garage, it offers the advantage of being situated in a bustling area with plenty of amenities nearby. The absence of a central vacuum system and family room may not be ideal for everyone, but the property does come equipped with two kitchens—an essential feature for a multi-family home. The heating is provided by a baseboard system, ensuring warmth during those chilly Ottawa winters.

In terms of utilities, the property benefits from municipal water and sewer services, making it a convenient choice for prospective tenants. The flooring throughout the duplex consists of a mix of hardwood, laminate, and other materials, providing a blend of durability and style. Although the basement is only partially finished, it offers additional space that could be developed further to enhance the property's value.

As you consider this investment opportunity, remember that 74 Preston Street, Ottawa, is more than just a property; it’s a chance to secure a solid investment in a highly desirable location. With the demand for rental properties in Ottawa on the rise, this Multi-Family Home for sale in Ottawa is perfectly positioned to meet the needs of the local market.

Don't miss out on this fantastic opportunity to own a property that not only offers immediate income potential but also the chance to grow your investment in the future. Whether you're an experienced investor or just starting, 74 Preston Street, Ottawa, is a prime choice for anyone looking to enter the rental market. So, why wait? Take the plunge and explore the possibilities that this Multi-Family Home for sale in Ottawa has to offer!

West Centre Town, located in the heart of Ottawa, is a vibrant and diverse neighbourhood that seamlessly blends urban living with a sense of community. Characterised by its charming tree-lined streets and a mix of historic and contemporary architecture, this area offers a unique atmosphere that appeals to a variety of residents. With easy access to public transport, parks, and local amenities, including cafes, shops, and cultural attractions, West Centre Town is perfect for those seeking a lively urban lifestyle. The proximity to downtown Ottawa ensures that residents are never far from the city’s bustling core, while still enjoying the quieter, more intimate feel of a close-knit neighbourhood.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, catering to a variety of academic needs. The closest option is Devonshire Community Public School, just 0.5 km away, offering French language instruction for grades JK to 6, with a commendable school rating of 8.3. For older students, Glebe Collegiate Institute, located 1.6 km away, provides secondary education (grades 9 to 12) and boasts a solid rating of 7.7. Additionally, St. Anthony School, a Catholic institution 0.6 km from the property, offers English instruction for grades JK to 6 and has a rating of 6.6. R.H. Murray Public School, situated 1.2 km away, serves grades K to 8 but currently has no rating available. Fisher Park Public School, also nearby at 1.9 km, offers grades 7 to 8 in French, though it lacks a rating as well. Lastly, Immaculata High School, located 2.8 km away, provides Catholic secondary education for grades 7 to 12 with a rating of 7.4. This diverse range of schools ensures that families have access to quality education options within a short distance from the property.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small community with a population of 516 residents and an average household size of 1.8. The average age of residents is 42.9 years, indicating a mature population. The area boasts a relatively high average household income of $151,000, with only 6.8% of the population classified as low-income. The real estate market shows an average property price of $660,000, with 57.63% of households being renters and 15.25% living in condominiums. Socially, the community is diverse, with 50% of the population being single and 44% of households containing children. Additionally, 7.48% of residents are immigrants, contributing to the area's cultural richness. Education levels are notably high, with 70.97% of residents holding a college or university degree. However, a significant portion of the population, 31.18%, is not in the labor force, which may reflect various factors, including retirement or other personal circumstances. Overall, this area presents a blend of affluence, educational attainment, and family-oriented households, making it an attractive location for potential buyers or investors.