575 Somerset Street W, Ottawa Centre, ON K1R 5K1
Ottawa Centre, ON K1R 5K1
About this property
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.
Property facts & features
- Days on market
- Not reported
- Property type
- Investment
- MLS® number
- X13758910
- Source status
- New
- Bedrooms
- Not provided
- Bathrooms
- 4
- Neighbourhood
- Not provided
- Postal code
- K1R 5K1
- Kitchens
- Not reported
- Family room / den
- Not reported
- Interior size
- Not reported
- Stored area (basis / units unverified)
- 0
- Lot size
- 3,735 sq ft
- Lot depth
- 112.50 ft
- Garage parking spaces
- Not reported
- Total parking spaces
- Not reported
- Garage
- Outside/Surface
- Annual property tax
- 7562
- Basement
- Not provided
- Laundry
- Not provided
- Interior features
- Not provided
- Exterior features
- Not provided
- MLS entry age (not confirmed DOM)
- 54 days
Values and units are reported by the listing source. Verify measurements and fees with the brokerage.
Rooms & virtual tours
Loading source-reported room dimensions…
Converted measurements are approximate. Levels and dimensions are shown only when supplied.
Room-count details have not been supplied for this listing.
Ask the listing brokerage for floor plans and measured room layouts.
Listing dates & price record
- Asking amount
- $895,000
Original MLS entry
Entry into the source MLS system; distinct from days on market.
Coverage varies by listing. Dates are source-reported calendar dates; only the latest reported asking-price change is shown. This is a partial record.
Explore sold records with approved VOW access →Plan your monthly ownership costs
Adjust the assumptions for your own scenario. Blank expenses are unknown; enter them for a fuller estimate.
Planning estimate with Canadian semiannual compounding. Excludes mortgage insurance, closing costs and special assessments. This is not a lender quote or mortgage approval.
Explore affordability & closing-cost tools →Location & neighbourhood
A verified map location is not yet available for this listing.
Transit stops, schools and commute information are unavailable until verified sources are connected. Optional overlays remain off.
Explore active properties in Ottawa Centre →Listing brokerage: PARADIGM COMMERCIAL REAL ESTATE & BROKERAGE INC.. Displayed by EnterHome Realty. Source: authorized IDX record, MLS® X13758910. Information deemed reliable but not guaranteed.