296 Somerset Street E, Lower Town - Sandy Hill, ON K1N 6W1
$3,700,000
296 Somerset Street E, Lower Town - Sandy Hill, ON K1N 6W1, Lower Town - Sandy Hill, ON
Bed 16
Bath 6
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.
Property Highlights
For Sale
MLS NO.
X11979985
Type
Residential Freehold
Sub Type
Fourplex
Bedrooms
16
Bathrooms
6
Complete Property Details
Property Type
Residential Freehold
Sub Type
Fourplex
Transaction Type
For Sale
Status
Expired
Contract Status
Unavailable
MLS® Number
X11979985
Total Bedrooms
16
Bedrooms Above Grade
12
Bedrooms Below Grade
4
Total Bathrooms
6
Total Kitchens
5
Kitchens Above Grade
4
Kitchens Below Grade
1
Rooms Above Grade
19
Rooms Below Grade
6
Interior Features
Separate Heating Controls, Separate Hydro Meter
Fireplace
No
Central Vacuum Yn
No
Security Features
Security System
Construction
Brick, Hardboard
Roof
Membrane
Lot Width
39.89
Lot Size
3983.0
Lot Size Units
SqFtDivisible
Parking Features
None
Parking Total
0.0
Covered Spaces
0.0
Garage Type
None
Garage
No
Pool
None
Direction Facing
South
Cooling
Central Air
Heat Source
Gas
Heat Type
Forced Air
Internet Address Display Yn
Yes
Internet Entire Listing Display Yn
Yes
Full Address
296 Somerset Street E, Lower Town - Sandy Hill, ON K1N 6W1
City
Lower Town - Sandy Hill
Neighbourhood
4004 - Sandy Hill
County / Region
Ottawa
Province / State
ON
Postal Code
K1N 6W1
Cross Street
Russell Avenue
Directions
Between Chapel and Russell
Country
CA
List Price
$3,700,000
Annual Taxes
$24,939
Tax Year
2024
Legal Description
Lot 15 PLAN 46666 SUBJECT TOCR624264; OTTAWA/NEPEAN
Possession Type
Immediate
Possession Details
Immediate
Listing Office
RE/MAX HALLMARK REALTY GROUP
Board
Ottawa Real Estate Board
Original Entry
2025-02-20T14:17:25Z
Media Updated
2025-02-20T14:17:25Z
Photos Updated
2025-02-20T14:17:25Z
Last Modified
2025-05-22T05:15:33Z
System Modified
2025-10-12T08:43:49.416547Z
MLS Status
Expired
Architectural Style
3-Storey
Basement
Apartment
Ddfyn
Yes
Expiration Date
2025-05-21
Foundation Details
Poured Concrete
Heat Source Multi
Gas
Heat Type Multi
Forced Air
Hstapplication
In Addition To
Occupant Type
Tenant
Originating System Id
A00001796
Parcel Number
042050095
Parking Spaces
0
Property Features
Fenced Yard, Public Transit, School
Public Remarks
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.
