Potential Gross Income (when fully rented): $116,832/year. HIGH-RETURN INVESTMENT | PRIME CENTRETOWN LOCATION | DEVELOPMENT POTENTIAL. With a walk score of 99/100, this Unique opportunity in the heart of Centretown, Central Ottawa - a high-performing commercial-residential investment property offering strong existing income with exceptional future development upside. Zoned TM14 H(20), this flexible zoning permits a wide range of commercial, mixed-use, and multi-residential possibilities with allowable building heights up to 20 metres, making this an attractive acquisition for developers and long-term investors alike.Situated on a 29 x 110 ft lot with 5 rear parking spaces, the property benefits from unbeatable urban walkability surrounded by transit, employment hubs, parks, restaurants, and downtown amenities - a location consistently in demand with tenants and future redevelopment prospects.The property is currently operated as individual residential rentals and has undergone over $100,000 in renovations, optimizing rental performance and tenant appeal. It generates strong cash flow while providing investors flexibility to reposition, redevelop, or hold for long-term appreciation. The asset benefits from continued rental demand driven by Ottawa's population growth and urban intensification, making it ideal for investors seeking both immediate income and future upside.A rare opportunity to secure a high-yield property in one of Ottawa's most desirable urban investment corridors.Contact listing agent for financials, additional photos, and private viewing. *Offers welcome* (id:25961)
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Rooms
| Level | Type | Dimensions |
|---|
Details
- Equipment: Water Heater
- Parking Spaces: 5
- Rental Equipment: Water Heater
- Transaction: For sale
- Zoning Description: TM14 H
Building
- Appliances: Furniture
- Cooling: Fully air conditioned
- Fireplace Present: False
- Heating: Forced air
- Heating Fuel: Natural gas
- Size Exterior: 2809 sqft
- Size Interior: 2809 sqft
- Type: Offices
- Utility Water: Municipal water
Land
- Size Frontage: 29 ft
- Size Irregular: Bldg=29 x 110 FT ; 0
Listing provided by RE/MAX HALLMARK REALTY GROUP
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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 474 SOMERSET STREET W in Ottawa Ontario. It was last modified on January 7th, 2026. Contact Biju George to schedule a viewing or to discover other Ottawa real estate for sale.