294 Somerset Street E Ottawa, Ontario K1N 6W1
$850,000
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:37684)
Property Details
| MLS® Number | 1345811 |
| Property Type | Vacant Land |
| Neigbourhood | Sandy Hill |
| Amenities Near By | Public Transit, Recreation Nearby, Shopping |
Building
| Basement Development | Not Applicable |
| Basement Type | Unknown (not Applicable) |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Land Amenities | Public Transit, Recreation Nearby, Shopping |
| Sewer | Municipal Sewage System |
| Size Depth | 100 Ft |
| Size Frontage | 40 Ft |
| Size Irregular | 0.09 |
| Size Total | 0.09 Ac |
| Size Total Text | 0.09 Ac |
| Zoning Description | R4u |
https://www.realtor.ca/real-estate/25685497/294-somerset-street-e-ottawa-sandy-hill
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June 07 2023 09:11:47
Ottawa Real Estate Board
Exp Realty
