$995,000
FOR SALE

Investment

Lot: 33 x 112.5 ft
2026 Taxes: $7,562

575 Somerset St W
Ottawa Centre, ON K1R 5K1 | 4102 - Ottawa Centre | Ottawa

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.
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Listed By PARADIGM COMMERCIAL REAL ESTATE & Brokerage INC.
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X13086366
Last Updated May 05, 2026
Property Summary
Property Type Investment

More like this:
Use Apts - 2 To 5 Units
PIN 041210047
Possession Date Immediate
Taxes (2026) $7,562
Directions/Cross Streets Lyon St N and Bay St.
Neighbourhood 4102 - Ottawa Centre
Area Ottawa
Price History

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Detailed Information
Freestanding Y
Bathrooms 4
Lot 33 x 112.5 ft
Air Conditioning Partial
Basement Basement
Garage Type Outside/Surface
Parking Spaces 4
Heat Type Gas Forced Air Open

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