This classic 1930s duplex presents a great investment opportunity in the heart of Little Italy, prominently located on Preston Street. Surrounded by ongoing development and long-term growth, this property offers exceptional future potential in one of Ottawa's most vibrant and culturally rich neighbourhoods. With flexible TM zoning, buyers have multiple options to maximize value-whether maintaining and updating the existing duplex or exploring redevelopment possibilities such as a mixed-use commercial space with residential units above.The property features two self-contained units, each with its own hydro meter, and flexible access options allowing entry from the front for both units or a separate rear entrance for the lower unit. Its unbeatable location places you within walking distance of restaurants, cafés, shops, Dows Lake, and Lebreton Flats, with convenient access to the LRT and downtown Ottawa-making it easy to live local and attract strong tenant demand.Owned by the same family for over 40 years, this is a well-established property in a rapidly appreciating area. With steady rental income potential today and significant redevelopment upside for the future, this is a compelling opportunity for investors seeking long-term growth in a prime urban location. Flexible closing available. Book your showing today and explore the possibilities. (id:47421)
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Detailed Information
Bedrooms
4
Bathrooms
2
Lot
22.58 x 103 ft
Features
Carpet Free
Listing Contract Date
2026-01-02
Location Description
Cross Streets: Preston street and Laurel St E. ** Directions: Preston street in between Somerset W and Gladstone. East side of the street.
# of Parking Spaces
3
Property Type
Multi-family
Transaction Type
For sale
Views
City view
Zoning Description
TM [78] H(15)
Building
Age
51 to 99 years
Amenities
Separate Electricity Meters
Appliances
Water Heater, Dryer, Two stoves, Washer, Two Refrigerators
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