Innovative Realty Inc.

Brokerage

Kannan Panchalingam

Direct : (647) 928-8889

kannanhomes@yahoo.com

575 Somerset Street W, Ottawa Centre, ON K1R 5K1 (Lyon St N and Bay St.)
$ 995000 - MLS : X13086366

From Our Gallery

Description

Rare dual-opportunity in the heart of Centretown. Buy cash flow today, build tomorrow. Three tenanted units generating verified income with a vacant basement offering additional income potential. Included is a complete, permit-ready 10-unit redevelopment package - full architectural, servicing, grading, electrical and tree reports. Building and demolition permits submitted to the City of Ottawa; first-round review complete with standard infill comments issued. Buyers can revise or proceed to resubmission under their own name. Set up for MLI Select financing: up to 95% LTV and 50-year amortization. Accessible lift included in plans with potential to add 2 additional storeys. 33' x 112' lot. 4 parking spaces. Walking distance to Bank St, Elgin, and Little Italy. Close to grocery, retail, dining, transit and LRT. Unit mix: 2 x 2-bedroom, 1 x 1-bedroom (tenanted) + basement unit (vacant). Permit-ready package, architectural drawings, and financials available. Contact listing agent for data room access.

Location Description

Lyon St N and Bay St.

Property Detail

Community: 4102 - Ottawa Centre
Property Type: Tenant/Commercial
Bath: 4
Garages: Outside/Surface
Annual Property Taxes : $ 7562

Lot dimensions: sqft
Baths:

Facts and Features

Parking Type : Outside/Surface

Amenities

Heating : Gas Forced Air Open

Listing Contracted With: PARADIGM COMMERCIAL REAL ESTATE & BROKERAGE INC.

Kannan Panchalingam

Sales Representative

( 5 Reviews )

While I like to think that real estate is in my blood, shameless self-promotion is not. Unfortunately, that's part of the business so here's the painful bit about who I am and what makes me tick. The Toronto region has been my home all my life, and I love this area.

kannanhomes@yahoo.com

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