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$ 18,950,000
Est. payment | /mo
$ 18,950,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Subdivision 4004 - Sandy Hill
MLS Listing ID X12543018
Annual Tax Amount $84,209
Tax Year 2025
Property Sub-Type Investment
Property Description
$13M CMHC-insured 3.75% 40 year assumable Mortgage - A rare opportunity to acquire a purpose-built 40-unit building in the heart of Sandy Hill, within downtown Ottawa, delivering an impressive NOI of $715,980 and a major built-in value-add. Included with the offering is an approved, permit-ready addition directly beside the existing building, allowing for the development of 18 additional units, a future expansion opportunity exceptionally hard to find in today's market. All suites have been fully renovated since 2020, and along with the modernized finishes, unit layouts were thoughtfully optimized to improve livability and long-term rental performance. Previous ownership also completed substantial infrastructure upgrades, including hydro vault (2006), elevator rebuild to new (2010), roof (2012), lobby doors (2012), dual boilers (2014), and balcony updates (2015). These capital improvements significantly reduce near-term maintenance exposure while supporting premium furnished rents. The building offers a desirable mix of studio, one-bedroom, and two-bedroom suites, all fully furnished and with utilities included, attracting a strong and dependable tenant base of young professionals and students. Located along Laurier Avenue, the property benefits from unmatched proximity to downtown amenities, Ottawa University, government offices, and major transit corridors, making these units consistently easy to lease. This is a high-performing, centrally located multi-residential asset with a dynamic tenant pool, fully updated interiors, substantial capital improvements, and a shovel-ready expansion opportunity.
Location
Province ON
County Ottawa
Area Ottawa
Interior
Cooling Partial
Exterior
Utilities Available Yes
Lot Frontage 92.63
Lot Depth 105.0
Others
ParcelsYN No
Virtual Tour https://my.matterport.com/show/?m=P8fPV24vnqp&mls=1
Listed by SLEEPWELL REALTY GROUP LTD
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