294 SOMERSET STREET E, Ottawa, Ontario, K1N6W1 Ottawa ON CA

CAD 850,000

For Sale MLS: 1345811

Primary image of 294 SOMERSET STREET E, Ottawa, Ontario, K1N6W1 Ottawa ON CA

Additional image 2 of 294 SOMERSET STREET E, Ottawa, Ontario, K1N6W1 Ottawa ON CA

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Property Details

Bedrooms

Bathrooms

Neighborhood

Sandy Hill

Basement

Not Applicable, Unknown

Property Type

Vacant Land

Description

Great location! Close to Ottawa University, Rideau Centre and the Byward market! Based on Bill 23, there is no requirement to go through site-plan approval. Build 8 units at 3 bedrooms per unit on this lot. Draft from architect attached. With regard to Gross income $3k/unit for each 3-bed unit in Sandy Hill forecasted translates to a potential gross income of $288,000. Using a cap rate of 4.75% and using 30 percent expenses equals a potential final value of $4.24M. (id:1937) Find out more about this property. Request details here

Location

Address

294 Somerset Street East, Ottawa, Ontario K1N 6W1, Canada

City

Ottawa

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