575 Somerset St W

About this Property

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.

Listing Details

MLS #

X13758910

Board

PROPTX

Market

ontario

Property Type

Investment

Style

Apartment

Garage

Outside/Surface

Parking Spaces

4

Basement

Y

Heating

Gas Forced Air Open

Cooling

Part

Lot Size

33 × 112.5 ft

Annual Taxes

$7,562/yr

Listed By

PARADIGM COMMERCIAL REAL ESTATE & BROKERAGE INC.

Listed On

September 9, 2026