296 Somerset Street East, Lower Town - Sandy Hill | Image 1

296 Somerset Street East

Lower Town - Sandy Hill, 4004 - Sandy Hill

  • 12 bed 6 bath
$3,700,000 est.*: $12,534/mo
For Sale

Added 1 month ago

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  • Type: Fourplex

  • Style: 3-Storey

  • Lot Size: 39.89 x 99.92 Feet

  • Age: No Data

  • Taxes: $24,939 per year

  • Added: Feb 20, 2025 (1 month ago)

  • Updated:

  • Last Checked: 1 week ago

  • MLS®#: X11979985

  • Listed By: Re/max hallmark realty group

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.

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Property

  • Status: Sale

  • Property Type: Fourplex

  • Style: 3-Storey

  • Area: Lower Town - Sandy Hill

  • Community: 4004 - Sandy Hill

  • Availability Date: Immediate

Inside

  • Bedrooms: 12

  • Bedrooms Plus: 4

  • Bathrooms: 6

  • Kitchens: 4

  • Kitchens Plus: 1

  • Rooms: 19

  • Den/Family Room: No

  • Air Conditioning: Central Air

  • Fireplace: No

  • Central Vacuum: N

  • Washrooms: 6

Utilities

  • Electricity: Yes

  • Gas: Yes

Building

  • Basement: Apartment

  • Heat Type: Forced Air

  • Heat Source: Gas

  • Exterior: Brick

  • Water Supply: Municipal

  • Special Designation: Unknown

  • Retirement: N

Parking

  • Driveway: None

  • Garage Type: None

Fees

  • Tax Year: 2024

  • Tax Legal Description: Lot 15 PLAN 46666 SUBJECT TOCR624264; OTTAWA/NEPEAN

  • Taxes: $24,939

Highlights

  • Feature: Fenced Yard

  • Feature: Public Transit

  • Feature: School

Land

  • Cross Street: Russell Avenue

  • Municipality District: Lower Town - Sandy Hill

  • Fronting On: South

  • Parcel Number: 042050095

  • Parcel of Tied Land: N

  • Pool: None

  • Sewer: Sewers

  • Lot Depth: 99.92 Feet

  • Lot Frontage: 39.89 Feet

  • Acres: Not Appl

  • Zoning: R4H(480)

Additional Media

  • Virtual Tour: https://youtu.be/KGrdaEeHbc0
See 3D Tour of 296 Somerset Street East, Lower Town - Sandy Hill
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Walker's Paradise

  • Daily errands do not require a car.
91 /100

Excellent Transit

  • Most errands can be accomplished by public transportation.
82 /100

Biker's Paradise

  • Daily errands do not require a car.
96 /100
Map of 296 Somerset Street East, Lower Town - Sandy Hill
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Viscount Alexander Public School

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258, 26 Bronson Avenue, West Centre Town | MLS: X11980469
For Sale
1 month ago
$3,549,000
  • 10 bath
  • 17 bed

258, 26 Bronson Avenue, West Centre Town, Ontario • K1R 6H8 • 4204 - West Centre Town