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575 Somerset Street W
4102 - Ottawa Centre Ottawa Centre K1R 5K1

$995,000 /For Sale
Commercial

Existing Building: 4 Unit
Photo 1: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
Photo 2: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
Photo 3: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
Photo 4: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
Photo 5: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
Photo 6: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
Photo 7: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
Photo 8: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
Photo 9: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
Photo 10: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
Photo 11: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
Photo 12: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
Status:
Active
Prop. Type:
Commercial
MLS® Num:
X13086366
Bus Major:
Apts - 2 To 5 Units
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.
Property Type:
Commercial
Property Sub Type:
Investment
Freestanding:
Yes
Total Area:
0 sq. ft. Square Feet
Total Area:
0 sq. ft.
Lot Depth:
112'6"
Lot Frontage:
33'
Bathrooms:
4.0
Water supply:
Municipal
Zoning:
H1 H(16.5)
Heating type:
Gas Forced Air Open
Garage:
Outside/Surface
Parking Spaces:
4
Possession Details:
Immediate
HST Applicable To Sale Price:
Included In
Development Charges Paid:
No
Type Taxes:
Annual
Taxes:
$7,562 / 2026
Assessment:
$- / -
Ottawa
Ottawa Centre
4102 - Ottawa Centre
Public Transit, Recreation/Community Centre
Utilities:
Yes
Air Conditioning:
Partial
Seller Property Info Statement:
No
Gross income:
$66,108
Expenses Actual/Estimated:
Estimated
Heating Expenses:
$1,524
Insurance Expenses:
$5,000
Water Expenses:
$1,400
Year Expenses:
15486
Major Business Type:
Apts - 2 To 5 Units
Category:
Apartment
Date Listed:
May 05, 2026
Original Price:
Previous Price:
  • Photo 1: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
    Existing Building: 4 Unit
  • Photo 2: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
    Proposed Rendering: 10 Unit
  • Photo 3: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
    Proposed Rendering: 10 Unit
  • Photo 4: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
    Photo 4 of 12
  • Photo 5: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
    Photo 5 of 12
  • Photo 6: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
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  • Photo 7: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
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  • Photo 8: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
    Photo 8 of 12
  • Photo 9: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
    Photo 9 of 12
  • Photo 10: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
    Photo 10 of 12
  • Photo 11: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
    Photo 11 of 12
  • Photo 12: 575 Somerset Street W in Ottawa Centre: 4102 - Ottawa Centre Commercial for sale : MLS®# X13086366
    4 Parking Spaces
Listed by PARADIGM COMMERCIAL REAL ESTATE & BROKERAGE INC.
Data was last updated May 6, 2026 at 03:15 AM (UTC)
DARYL  KING
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FAQs – Apartment Buildings for Sale

1. Are apartment buildings a good investment?
Yes, apartment buildings provide steady rental income, potential tax benefits, and property value appreciation over time.

2. What should I consider before buying an apartment building?
Evaluate location, tenant demand, building condition, rental income, and management costs.

3. Can first-time investors buy apartment buildings?
Yes, many financing options are available for new investors, including CMHC-backed loans and commercial mortgages.

4. How many units are considered an apartment building?
Typically, any property with five or more units is classified as an apartment building for investment purposes.

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You can find listings across major cities and growing suburbs where rental demand remains strong.