640 SOMERSET STREET W
Ottawa, Ontario
MLS® X13775652
$724,900
- Status
- Active
- Property type
- Retail
- MLS® number
- X13775652
- Bedrooms
- —
- Bathrooms
- —
- Year built
- —
1 / 22Listing description
INVESTORS & DEVELOPERS! Currently generating $7,042/month ($84,504/year) in gross rental income, this rare detached mixed-use property in the heart of Centretown West offers exceptional flexibility and future potential. The upper residential unit is rented for $2,300/month, the main-floor commercial space for $3,842/month through 2027, plus $900/month from the rear space.
Zoned TM(2185) H(16), the property offers residential and commercial possibilities and multiple income streams. The main level is currently configured as commercial space, while the self-contained upper unit features a separate entrance and private second-floor balcony. Significant improvements were completed in 2022, including updated appliances and interior upgrades.
Additional features include a dry basement and major system updates including roof and furnace. Ideally positioned on Somerset St W in vibrant Chinatown, just minutes from Little Italy, LeBreton Flats, downtown, shops, restaurants, transit and the LRT. Strong income today with exciting long-term potential.
(Buyer to verify zoning, permitted uses and redevelopment possibilities. Sold as is)
Property summary
- MLS® number
- X13775652
- Property type
- Retail
- Size
- 1,500 sq ft
- Land size
- Bldg=25.85 x 110.01 FT
- Annual property taxes
- $8,300.00
- Days on market
- 17 days
Features & details
- Heating
- Forced air, Natural gas
- Cooling
- None
- Appliances
- Washer, Dishwasher, Dryer
What would this home cost you?
Based on the $724,900 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of FIDACITY REALTY, OTTAWA.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.