296 Somerset Street E Ottawa, Ontario K1N 6W1

4,600 ft²

Fully Air Conditioned Other

$3,700,000

Easy to rent at premium prices this Sandy Hill 5 unit building at 296 Somerset St. E built in 2021 gives investors years of minimal maintenance expenditures. It's comprised of 4 residential apartments; each with 4 bedrooms. The 5th unit is Safi Fine Food retail & cafe. Each unit has its own hi-efficiency furnace, AC, hydro meter and in-unit laundry. The building is 3 stories plus finished basement. According to attached floor plans unit sizes are Apt #1 848 sq. ft. (basement) Apt. #2 690 sq. ft. (2nd floor) Apt. #3 844 sq. ft. (2nd/3rd floor) Apt. #4 690 Sq. ft. (3rd floor) Leased retail business is 952 sq. ft. Exterior is primarily brick & Hardie Board siding, roof is membrane. Owner pays water & WIFI. Tenants pay heat & hydro except #3, which will be rectified at end of lease. Gross income $235,498. Expenses $44,466. Net income $191,109. Hot water is an owned tankless system. Showings Mon, Wed, and Fri, and Sat 11 am to 4 pm. The building is four blocks from the University of Ottawa so there's always a massive tenant pool. Public bus transit right on Somerset St. and the Light Rapid Train system has its own stop right at U-Ottawa! A few blocks to Minto Sports complex, Sandy Hill arena, and all necessary shops and services on Rideau St. This is an investor's dream property, now being offered for the first time. Fenced back yard for tenants' enjoyment. (id:48414)

Business

Business Type	Residential
Business Sub Type	Apartments

Property Details

MLS® Number	X11979979
Property Type	Multi-family
Neigbourhood	Sandy Hill
Community Name	4004 - Sandy Hill
Amenities Near By	Public Transit, Recreation

Building

Appliances	Dishwasher, Dryer, Refrigerator, Stove, Washer
Cooling Type	Fully Air Conditioned
Heating Fuel	Natural Gas
Heating Type	Other
Size Exterior	4600 Sqft
Size Interior	4,600 Ft²
Type	Multi-family
Utility Water	Municipal Water

Land

Acreage	No
Land Amenities	Public Transit, Recreation
Size Depth	99 Ft ,11 In
Size Frontage	39 Ft ,10 In
Size Irregular	Bldg=39.89 X 99.93 Ft
Size Total Text	Bldg=39.89 X 99.93 Ft
Zoning Description	R4h(480)

Aerial
Walking Score

https://www.realtor.ca/real-estate/27933150/296-somerset-street-e-ottawa-4004-sandy-hill

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Last Updated
February 20 2025 03:52:32

Data Provider
Ottawa Real Estate Board

Listing Office
RE/MAX Hallmark Realty Group

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