474 SOMERSET STREET W - Photo 1 of 23, Ottawa, Ontario
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$988,000

474 SOMERSET STREET W — Ottawa, Ontario

K1R5J8

2,809Sq Ft
5Parking

Listed by RE/MAX HALLMARK REALTY GROUP

About This Property

HIGH-RETURN INVESTMENT | PRIME CENTRETOWN LOCATION | DEVELOPMENT POTENTIAL. With a walk score of 99/100, this Unique opportunity in the heart of Centretown, Central Ottawa - a high-performing commercial-residential investment property offering strong existing income with exceptional future development upside. Zoned TM14 H(20), this flexible zoning permits a wide range of commercial, mixed-use, and multi-residential possibilities with allowable building heights up to 20 metres, making this an attractive acquisition for developers and long-term investors alike.Situated on a 29 x 110 ft lot with 5 rear parking spaces, the property benefits from unbeatable urban walkability surrounded by transit, employment hubs, parks, restaurants, and downtown amenities - a location consistently in demand with tenants and future redevelopment prospects.The property is currently operated as individual residential rentals and has undergone over $100,000 in renovations, optimizing rental performance and tenant appeal. It generates strong cash flow while providing investors flexibility to reposition, redevelop, or hold for long-term appreciation.Financial Highlights: Potential Gross Income (when fully rented): $116,832/year Expenses: $29,664.15/year Net Operating Income (NOI): $87,165.85/year. The asset benefits from continued rental demand driven by Ottawa's population growth and urban intensification, making it ideal for investors seeking both immediate income and future upside.A rare opportunity to secure a high-yield property in one of Ottawa's most desirable urban investment corridors.Contact listing agent for financials, additional photos, and private viewing. *Offers welcome* (id:63357)

Property Details

Property Type
Commercial
Building Area
2,809 square feet
Living Area
2,809 sqft
Status
Active

Location & Neighborhood

What's nearby 474 SOMERSET STREET W

Lifestyle Summary

** Living on Somerset Street West means embracing a dynamic urban lifestyle with access to everything you need. The combination of excellent schools, convenient public transit, and a vibrant culinary scene creates a well-rounded living experience for individuals and families alike. With welcoming neighbors and a strong community spirit, residents feel connected and at home. This area is not just a place to live, but a place to thrive, offering a blend of convenience, culture, and comfort.

🏘️Neighborhood Vibe

** Nestled in the heart of Ottawa, the Somerset Street West area radiates a vibrant, multicultural atmosphere that invites residents to explore diverse cultures and lifestyles. The neighborhood boasts a friendly, community-oriented vibe, where neighbors become friends and local businesses thrive. With a mix of historic charm and modern conveniences, it’s a place that feels both welcoming and alive. **COMMUTER_SUMMARY:** Commuters will appreciate the exceptional transit options available, with multiple bus stops just a short walk away, including Somerset W / Kent and Somerset W / Lyon. This accessibility makes it easy to navigate the city, whether you're heading downtown for work or exploring Ottawa's many attractions. The efficient public transport system ensures that residents can enjoy the best of urban living without the hassle of a long commute. **FAMILY_SUMMARY:** Families will find a wealth of educational opportunities nearby, with numerous public schools and daycare options within walking distance, such as St. Patrick's Adult School and Centretown Parents' Day Care. The community is designed with families in mind, offering safe, engaging environments for children to learn and grow. With accessible parks and recreation areas close by, it’s a nurturing space for families to thrive. **DINING_ENTERTAINMENT:** Food lovers will delight in the array of dining options right at their doorstep, from the savory offerings of African BBQ House to the cozy ambiance of Art House Café. Whether you're in the mood for a quick bite or a leisurely meal, the neighborhood features a diverse selection of restaurants and cafes that cater to every palate. Enjoy weekends exploring new flavors or treating yourself to dessert at one of the charming local cafes. **OUTDOOR_RECREATION:** Nature enthusiasts and families alike will appreciate the nearby parks, including Dundonald Park and McNabb Park, which provide lush green spaces for relaxation and recreation. These parks offer playgrounds, picnic areas, and walking paths, making them perfect for outdoor activities or simply unwinding in the fresh air. The abundance of nearby green spaces enhances the overall quality of life in this lively neighborhood. **OVERALL_LIFESTYLE:** Living on Somerset Street West means embracing a dynamic urban lifestyle with access to everything you need. The combination of excellent schools, convenient public transit, and a vibrant culinary scene creates a well-rounded living experience for individuals and families alike. With welcoming neighbors and a strong community spirit, residents feel connected and at home. This area is not just a place to live, but a place to thrive, offering a blend of convenience, culture, and comfort.

🚗Commuting

** Commuters will appreciate the exceptional transit options available, with multiple bus stops just a short walk away, including Somerset W / Kent and Somerset W / Lyon. This accessibility makes it easy to navigate the city, whether you're heading downtown for work or exploring Ottawa's many attractions. The efficient public transport system ensures that residents can enjoy the best of urban living without the hassle of a long commute. **FAMILY_SUMMARY:** Families will find a wealth of educational opportunities nearby, with numerous public schools and daycare options within walking distance, such as St. Patrick's Adult School and Centretown Parents' Day Care. The community is designed with families in mind, offering safe, engaging environments for children to learn and grow. With accessible parks and recreation areas close by, it’s a nurturing space for families to thrive. **DINING_ENTERTAINMENT:** Food lovers will delight in the array of dining options right at their doorstep, from the savory offerings of African BBQ House to the cozy ambiance of Art House Café. Whether you're in the mood for a quick bite or a leisurely meal, the neighborhood features a diverse selection of restaurants and cafes that cater to every palate. Enjoy weekends exploring new flavors or treating yourself to dessert at one of the charming local cafes. **OUTDOOR_RECREATION:** Nature enthusiasts and families alike will appreciate the nearby parks, including Dundonald Park and McNabb Park, which provide lush green spaces for relaxation and recreation. These parks offer playgrounds, picnic areas, and walking paths, making them perfect for outdoor activities or simply unwinding in the fresh air. The abundance of nearby green spaces enhances the overall quality of life in this lively neighborhood. **OVERALL_LIFESTYLE:** Living on Somerset Street West means embracing a dynamic urban lifestyle with access to everything you need. The combination of excellent schools, convenient public transit, and a vibrant culinary scene creates a well-rounded living experience for individuals and families alike. With welcoming neighbors and a strong community spirit, residents feel connected and at home. This area is not just a place to live, but a place to thrive, offering a blend of convenience, culture, and comfort.

👨‍👩‍👧‍👦Family Living

** Families will find a wealth of educational opportunities nearby, with numerous public schools and daycare options within walking distance, such as St. Patrick's Adult School and Centretown Parents' Day Care. The community is designed with families in mind, offering safe, engaging environments for children to learn and grow. With accessible parks and recreation areas close by, it’s a nurturing space for families to thrive. **DINING_ENTERTAINMENT:** Food lovers will delight in the array of dining options right at their doorstep, from the savory offerings of African BBQ House to the cozy ambiance of Art House Café. Whether you're in the mood for a quick bite or a leisurely meal, the neighborhood features a diverse selection of restaurants and cafes that cater to every palate. Enjoy weekends exploring new flavors or treating yourself to dessert at one of the charming local cafes. **OUTDOOR_RECREATION:** Nature enthusiasts and families alike will appreciate the nearby parks, including Dundonald Park and McNabb Park, which provide lush green spaces for relaxation and recreation. These parks offer playgrounds, picnic areas, and walking paths, making them perfect for outdoor activities or simply unwinding in the fresh air. The abundance of nearby green spaces enhances the overall quality of life in this lively neighborhood. **OVERALL_LIFESTYLE:** Living on Somerset Street West means embracing a dynamic urban lifestyle with access to everything you need. The combination of excellent schools, convenient public transit, and a vibrant culinary scene creates a well-rounded living experience for individuals and families alike. With welcoming neighbors and a strong community spirit, residents feel connected and at home. This area is not just a place to live, but a place to thrive, offering a blend of convenience, culture, and comfort.

🍽️Dining & Entertainment

** Food lovers will delight in the array of dining options right at their doorstep, from the savory offerings of African BBQ House to the cozy ambiance of Art House Café. Whether you're in the mood for a quick bite or a leisurely meal, the neighborhood features a diverse selection of restaurants and cafes that cater to every palate. Enjoy weekends exploring new flavors or treating yourself to dessert at one of the charming local cafes. **OUTDOOR_RECREATION:** Nature enthusiasts and families alike will appreciate the nearby parks, including Dundonald Park and McNabb Park, which provide lush green spaces for relaxation and recreation. These parks offer playgrounds, picnic areas, and walking paths, making them perfect for outdoor activities or simply unwinding in the fresh air. The abundance of nearby green spaces enhances the overall quality of life in this lively neighborhood. **OVERALL_LIFESTYLE:** Living on Somerset Street West means embracing a dynamic urban lifestyle with access to everything you need. The combination of excellent schools, convenient public transit, and a vibrant culinary scene creates a well-rounded living experience for individuals and families alike. With welcoming neighbors and a strong community spirit, residents feel connected and at home. This area is not just a place to live, but a place to thrive, offering a blend of convenience, culture, and comfort.

🌳Outdoor Recreation

** Nature enthusiasts and families alike will appreciate the nearby parks, including Dundonald Park and McNabb Park, which provide lush green spaces for relaxation and recreation. These parks offer playgrounds, picnic areas, and walking paths, making them perfect for outdoor activities or simply unwinding in the fresh air. The abundance of nearby green spaces enhances the overall quality of life in this lively neighborhood. **OVERALL_LIFESTYLE:** Living on Somerset Street West means embracing a dynamic urban lifestyle with access to everything you need. The combination of excellent schools, convenient public transit, and a vibrant culinary scene creates a well-rounded living experience for individuals and families alike. With welcoming neighbors and a strong community spirit, residents feel connected and at home. This area is not just a place to live, but a place to thrive, offering a blend of convenience, culture, and comfort.

Nearby Schools

Parks & Recreation

Transit Access

Local Amenities

POI data updated recently

Price History

$988,000

Mar 1, 2026

$112,000

-10.2%

Ottawa Market Snapshot

3,032

Active Listings

$662K

Median Price

0

Avg Days on Market

Last updated: Mar 1, 2026

Listed by

RE/MAX HALLMARK REALTY GROUP

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$988,000