314 Somerset Street East, Ottawa, Ontario, K1N6W3




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$1,700,000
Ottawa
This multi-family property in Ottawa is for sale offering roughly 3,520 sq ft of space.
Solid six units all brick building. 5-2 bed and 1-1 bed. Fully rented; tenants have been there for a while. Present zoning: R4U (480) could be changing to CMI (480) H20. Income could be a lot higher. Grossing $111,764.00, Expenses $32,759.00, Net $80,005.00. New roof (2018). Most of the windows (17 Windows) were replaced 7 years ago. Hot Water Tanks owned. Tenants pay their own Hydro. 3+ parking spots, on-site laundry, 4 balconies, corner lot 69' x 62'. Boiler 2010, Roof 8 years old appx. In the heart of Sandy Hill. Very desirable rental market neighbourhood, within walking distance to Ottawa University. (id:66096)
Features and services as supplied by the listing brokerage.
Long Listed: 153 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 $1,700,000, about 26.6× the local median household income of $64,000.
Carrying it typically needs a household income of about $332,070 (20% down, 25-yr amortization, stress-tested) — roughly 419% above the area median.
Source: Statistics Canada, 2021 Census (FSA K1N)
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Loading rates, 30-yr amortization
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