280 Laurier Avenue E, Lower Town - Sandy Hill, ON K1N 6P5
$18,950,000
280 Laurier Avenue E, Lower Town - Sandy Hill, ON K1N 6P5, Lower Town - Sandy Hill, ON
9698.27 sqft
$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.
Property Highlights
For Sale
MLS NO.
X12543018
Type
Commercial
Sub Type
Investment
Square Footage
9698.27 sqft
Complete Property Details
Property Type
Commercial
Sub Type
Investment
Transaction Type
For Sale
Status
Active
Contract Status
Available
MLS® Number
X12543018
Lot Width
92.63
Lot Size
0.15
Garage Type
None
Cooling
Partial
Heat Type
Gas Hot Water
Internet Address Display Yn
Yes
Internet Entire Listing Display Yn
Yes
Full Address
280 Laurier Avenue E, Lower Town - Sandy Hill, ON K1N 6P5
City
Lower Town - Sandy Hill
Neighbourhood
4004 - Sandy Hill
County / Region
Ottawa
Province / State
ON
Postal Code
K1N 6P5
Cross Street
Laurier & Sweetland
Directions
From King Edward, head East on Laurier Ave, property on corner of Sweetland and Laurier.
Country
CA
List Price
$18,950,000
Annual Taxes
$84,209
Tax Year
2025
Possession Type
Flexible
Listing Office
SLEEPWELL REALTY GROUP LTD
Board
Ottawa Real Estate Board
Original Entry
2025-11-13T21:27:24Z
Media Updated
2025-11-13T21:32:27Z
Photos Updated
2025-11-13T21:32:27Z
Last Modified
2025-12-23T22:11:26Z
System Modified
2025-12-23T22:11:26.581796Z
MLS Status
New
Basement Yn
Yes
Ddfyn
Yes
Expiration Date
2026-01-31
Heat Type Multi
Gas Hot Water
Hstapplication
Included In
Occupant Type
Tenant
Originating System Id
A00001796
Parcel Number
042090064
Public Remarks
$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.
