296 SOMERSET STREET E
Ottawa, Ontario K1N6W1

$3,700,000

ID# X11979979
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:25961)
Courtesy of RE/MAX HALLMARK REALTY GROUP

Listed on: February 20, 2025

On market: 2 days
Cooling Type Fully air conditioned
Heating Type Other
Heating Fuel Natural gas
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Address Price Bed Bath SqFt Area Sub Area Brokerage
404 - 1025 GRENON AVENUE Ottawa
404 - 1025 GRENON AVENUE
 $279,000 1 1 Ottawa ROYAL LEPAGE TEAM REALTY
132 MANION ROAD Ottawa
132 MANION ROAD
 $1,095,000 4 4 250 x 630 FT ; 0|2 - 4.99 acres Ottawa ROYAL LEPAGE TEAM REALTY
717 WHITE ALDER AVENUE Ottawa
717 WHITE ALDER AVENUE
 $709,900 3 3 25.69 x 111.55 FT Ottawa ENGEL & VOLKERS OTTAWA
1564 Scottanne Street Ottawa
1564 SCOTTANNE STREET
 $1,100,000 4 3 Ottawa Greely
129 SPINNAKER WAY Ottawa
129 SPINNAKER WAY
 $749,000 5 2 96 x 231 FT ; 0 Ottawa ROYAL LEPAGE TEAM REALTY
175 LILY POND STREET Ottawa
175 LILY POND STREET
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Jennifer Ritskes

SALES REPRESENTATIVE

Direct: 613.851.0788

Jennifer@JenniferRitskes.com

Innovation Realty Ltd.

8221-B Campeau Drive

Kanata, ON K2T 0A2

Phone (613) 755-2278

Fax   (613) 755-2279


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