Taken back to the studs in 2016 by the current owner, this eight-unit stone apartment building combines historic character with substantially updated building systems. Improvements include electrical, windows, kitchens, bathrooms, flooring, and a hydronic heating system with individual fan coil units serving each apartment. The unit mix includes three one-bedroom and five two-bedroom apartments. Each unit is separately metered and equipped with its own stove, fridge, washer, and dryer. For investors, the opportunity is in the income. The property has a strong history of occupancy with established tenants, while current rents remain below prevailing market levels. This creates meaningful embedded upside as units naturally turn over and rents are repositioned toward market rates. Rather than relying on major renovations or redevelopment, a new owner can progressively grow revenue while continuing to benefit from the existing income stream. Located in the heart of Almonte, this property is approximately 30 minutes from Ottawa and surrounded by the community's historic downtown, Mississippi River waterfront, shops, restaurants, galleries, and year-round attractions. Almonte's continued growth and proximity to Ottawa support ongoing demand from both residents and visitors. Additional value includes six assigned parking spaces with potential to create a seventh, plus substantial storage space in the unfinished lower level. A stabilized eight-unit investment with limited immediate capital requirements, established occupancy, and a clear path to increasing gross income through natural tenant turnover. The building works today, with considerable opportunity to improve performance over time. (id:25961)
Schedule a Tour
Schedule Private Tour
Biju George would happily provide a private viewing if you would like to schedule a tour.
Match your Lifestyle with your Home
Contact Biju George, who specializes in Mississippi Mills real estate, on how to match your lifestyle with your ideal home.
Get Started Now
Lifestyle Matchmaker
Let Biju George find a property to match your lifestyle.
Rooms
| Level | Type | Dimensions |
|---|
Details
- Features: Irregular lot size
- Parking Spaces: 6
- Transaction: For sale
- Zoning Description: C2
Building
- Appliances: Dryer, Washer
- Cooling: None
- Fireplace Present: False
- Heating: Radiant heat
- Size Interior: 6395 sqft
- Type: Multi-Family
- Utility Water: Municipal water
Land
- Acreage: true
- Size Frontage: 40 ft
- Size Irregular: 4423.96
- Size Total: 4423.96 ac
Listing provided by REAL BROKER ONTARIO LTD.
MLS®, REALTOR®, and the associated logos are trademarks of the Canadian Real Estate Association.
This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 42 BRIDGE STREET in Almonte Ontario. It was last modified on August 7th, 2026. Contact Biju George to schedule a viewing or to discover other Almonte properties for sale.