185 Preston Street, Ottawa, Ontario, K1R7P8




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$789,900
Ottawa
This multi-family property in Ottawa is for sale offering roughly 2,700 sq ft of space.
Prime redevelopment and value-add opportunity in the heart of Ottawa's Little Italy. Existing triplex with approved plans and supporting consultant reports for conversion to a mixed-use building consisting of a ground-floor commercial unit and two residential units above. Extensive pre-development work has been completed, including architectural drawings, structural review, Hydro Ottawa clearance review, mechanical design and permit-related submissions. Purchasers benefit from significant time savings by acquiring a project that has already progressed through the planning and design process. The proposed design retains the existing structure while introducing a modern mixed-use layout suited for retail, professional office, service commercial or similar permitted uses. Rear parking available. Located within one of Ottawa's most established urban corridors, minutes from Dow's Lake, the future Ottawa Senators arena district, Chinatown, the Rideau Canal, public transit and major employment nodes. An excellent opportunity for builders, contractors, investors and owner-operators seeking a manageable urban infill project with substantial due diligence already completed. (Renderings depict a conceptual representation of the proposed redevelopment) (id:66096)
Features and services as supplied by the listing brokerage.
Long Listed: 133 days on market, against an average age of 62 days across the listings currently for sale in this city
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Approximate location — exact address confirmed upon showing
This home lists at $789,900, about 10.7× the local median household income of $74,000.
Carrying it typically needs a household income of about $154,295 (20% down, 25-yr amortization, stress-tested) — roughly 109% above the area median.
Source: Statistics Canada, 2021 Census (FSA K1R)
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Loading rates, 30-yr amortization
Cash Needed to Close
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