$938,000
FOR SALE

Investment

Lot: 29 x 110 ft
2025 Taxes: $12,984.16

474 SOMERSET St W
Ottawa Centre, ON K1R 5J8 | 4103 - Ottawa Centre | Ottawa

HIGH-RETURN INVESTMENT | PRIME CENTRETOWN LOCATION | DEVELOPMENT POTENTIAL | MIXED-USE ZONING. Endless possibilities await with this exceptional income-generating property in the heart of Central Ottawa, ideally positioned between Centretown, Chinatown, and Little Italy. A rare opportunity for investors, developers, and land bankers seeking strong cash flow today with substantial redevelopment potential tomorrow. Zoned TM14 H(20), this highly flexible zoning allows for a wide range of commercial, mixed-use, and multi-residential uses with building heights up to 20 metres, creating tremendous future upside in one of Ottawa's fastest-growing urban corridors.Situated on a 29 x 110 ft lot with 5 rear parking spaces, this property offers unbeatable convenience with a near-perfect Walk Score of 99/100. Steps to transit, employment hubs, restaurants, parks, shopping, and downtown amenities, this location continues to attract strong tenant demand and redevelopment interest.Currently configured with 7 (seven) fully furnished mid- to long-term residential tenants (formerly office use), accompanied by 2 shared kitchens and 2 shared bathrooms. The property has undergone over $100,000 in renovations to enhance tenant appeal and maximize rental performance. Potential gross income when fully rented: $116,832/year. Generate strong existing income while maintaining the flexibility to redevelop, reposition, expand, or hold as a long-term appreciation asset.Ideal for developers, commercial investors, multi-unit buyers, and those seeking a value-add opportunity with future intensification potential. Rarely do properties combine cash flow, premium urban location, zoning flexibility, parking, and development potential in one package. Contact listing agent for financials, additional photos, and private viewing. ALL SERIOUS OFFERS WELCOME.
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Listed By RE/MAX HALLMARK REALTY GROUP
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X13167240
Last Updated May 24, 2026
Property Summary
Property Type Investment

More like this:
PIN 041200075
Legal Description PT LT 25, PL 27267 , S/S SOMERSET ST AS IN NS107572 ; OTTAWA/NEPEAN
Possession Date Immediate or Flexible
Taxes (2025) $12,984.16
Directions/Cross Streets In between - Kent Street and Lyon Street
Neighbourhood 4103 - Ottawa Centre
Area Ottawa
Price History

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Detailed Information
Freestanding Y
Lot 29 x 110 ft
Air Conditioning Yes
Garage Type None
Parking Spaces 5
Heat Type Gas Forced Air Closed

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