See all 44 photos

$3,700,000

Est. payment - /mo

16 Beds

6 Baths

Active

296 Somerset ST E Lower Town - Sandy Hill, ON K1N 6W1

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Kenneth Yim

ken@broadviewavenue.ca +1(416) 651-5653

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Key Details

Property Type Multi-Family

Sub Type Fourplex

Listing Status Active

Purchase Type For Sale

Subdivision 4004 - Sandy Hill

MLS Listing ID X11979985

Style 3-Storey

Bedrooms 16

Annual Tax Amount $24,939

Tax Year 2024

Property Sub-Type Fourplex

Lot Depth 99.92

Lot Front 39.89

Property Description

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 $44,389. 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.

Location

Province ON

County Ottawa

Community 4004 - Sandy Hill

Area Ottawa

Rooms

Family Room No

Basement Apartment

Kitchen 5

Separate Den/Office 4

Interior

Interior Features Separate Heating Controls, Separate Hydro Meter

Cooling Central Air

Fireplace No

Heat Source Gas

Exterior

Parking Features None

Pool None

Roof Type Membrane

Lot Frontage 39.89

Lot Depth 99.92

Building

Unit Features Fenced Yard,Public Transit,School

Foundation Poured Concrete

Others

Security Features Security System

ParcelsYN No

Virtual Tour https://youtu.be/KGrdaEeHbc0

Listed by RE/MAX HALLMARK REALTY GROUP

GET MORE INFORMATION

Kenneth Yim

Broker of Record | License ID: 9524831

+1(416) 651-5653

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