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Monday, July 27th, 2026

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$995,000
Available - For Sale
Listing ID: X13086366
Rare dual-opportunity in the heart of Centretown. Buy cash flow today, build tomorrow. Three tenanted units generating verified income with a vacant basement offering additional income potential. Included is a complete, permit-ready 10-unit redevelopment package - full architectural, servicing, grading, electrical and tree reports. Building and demolition permits submitted to the City of Ottawa; first-round review complete with standard infill comments issued. Buyers can revise or proceed to resubmission under their own name. Set up for MLI Select financing: up to 95% LTV and 50-year amortization. Accessible lift included in plans with potential to add 2 additional storeys. 33' x 112' lot. 4 parking spaces. Walking distance to Bank St, Elgin, and Little Italy. Close to grocery, retail, dining, transit and LRT. Unit mix: 2 x 2-bedroom, 1 x 1-bedroom (tenanted) + basement unit (vacant). Permit-ready package, architectural drawings, and financials available. Contact listing agent for data room access.
Price $995,000
Taxes: $7,562
Tax Type: Annual
Occupancy by: Tenant
Address: 575 Somerset Street West , Ottawa Centre, K1R 5K1, Ottawa
Postal Code: K1R 5K1
Province/State: Ottawa
Directions/Cross Streets: Lyon St N and Bay St.
No. of Pieces Level
Washroom 1:  0
Washroom 2:  0
Washroom 3:  0
Washroom 4:  0
Washroom 5:  0
Washroom 6:  0
Washroom 7:  0
Washroom 8:  0
Washroom 9:  0
Washroom 10:  0
Washroom 11:  0
Washroom 12:  0
Washroom 13:  0
Washroom 14:  0
Washroom 15:  0
Category: Apartment
Use: Apts - 2 To 5 Units
Building Percentage: T
Total Area: 0
Total Area Code:  Square Feet
Area Influences: Public Transit   Recreation/Comm
Maintenance: 0
Water Expense: $1400
Expenses Actual/Estimated: $Est
Heat Type: Gas Forced Air Open
Central Air Conditioning: Partial
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Asking Price: $ Heating: $ /Year  
Interest Rate: % Condo Fee: $ /Year
Taxes:   $ /Year Other Debt: $ /Year  
Amortization:     Years GDS: %
    TDS: %
Percent Down:
Down Payment $ $ $ $
First Mortgage $ $ $ $
CMHC/GE $ $ $ $
Total Financing $ $ $ $
Monthly P&I $ $ $ $
Expenses $ $ $ $
Total Payment $ $ $ $
Income Required $ $ $ $

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Although the information displayed is believed to be accurate, no warranties or representations are made of any kind.
PARADIGM COMMERCIAL REAL ESTATE & BROKERAGE INC.

575 Somerset Street West , Ottawa Centre, K1R 5K1, Ottawa

Evelina Branitsky
Sales Representative
Dir:
647.888.9606
Bus:
416.739.7200
Fax:
416.739.9367

 
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At a Glance:
Type: Com - Investment
Area: Ottawa
Municipality: Ottawa Centre
Neighbourhood: 4102 - Ottawa Centre
Style:
Lot Size: x 112.50(Feet)
Approximate Age:
Tax: $7,562
Maintenance Fee: $0
Beds: 0
Baths: 4
Garage: 0
Fireplace: N
Air Conditioning:
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Evelina Branitsky Sales Representative pic ebranitsky@rogers.com Sutton Group- Admiral Realty Inc., Brokerage Independently owned and operated. pic 1881 Steeles Avenue West, Toronto, Ontario M3H5Y4 pic Dir: 647.888.9606 | Office: 416.739.7200 | Fax: 416.739.9367 Personal Pic

ebranitsky@rogers.com