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$15,900,000
Available - For Sale
Listing ID: X12917788
$13M CMHC-insured 3.75% 40 year assumable Mortgage - A rare opportunity to acquire a purpose-built 40-unit building in the heart of Sandy Hill, within downtown Ottawa, delivering an impressive NOI of $715,980 and a major built-in value-add. Included with the offering is an approved, permit-ready addition directly beside the existing building, allowing for the development of 18 additional units, a future expansion opportunity exceptionally hard to find in today's market. All suites have been fully renovated since 2020, and along with the modernized finishes, unit layouts were thoughtfully optimized to improve livability and long-term rental performance. Previous ownership also completed substantial infrastructure upgrades, including hydro vault (2006), elevator rebuild to new (2010), roof (2012), lobby doors (2012), dual boilers (2014), and balcony updates (2015). These capital improvements significantly reduce near-term maintenance exposure while supporting premium furnished rents. The building offers a desirable mix of studio, one-bedroom, and two-bedroom suites, all fully furnished and with utilities included, attracting a strong and dependable tenant base of young professionals and students. Located along Laurier Avenue, the property benefits from unmatched proximity to downtown amenities, Ottawa University, government offices, and major transit corridors, making these units consistently easy to lease. This is a high-performing, centrally located multi-residential asset with a dynamic tenant pool, fully updated interiors, substantial capital improvements, and a shovel-ready expansion opportunity.
Price $15,900,000
Taxes: $84,209
Tax Type: Annual
Occupancy by: Tenant
Address: 280 Laurier Avenue East , Lower Town - Sandy Hill, K1N 6P5, Ottawa
Postal Code: K1N 6P5
Province/State: Ottawa
Directions/Cross Streets: Laurier & Sweetland
No. of Pieces Level
Washroom 1:  0
Washroom 2:  0
Washroom 3:  0
Washroom 4:  0
Washroom 5:  0
Washroom 6:  0
Washroom 7:  0
Washroom 8:  0
Washroom 9:  0
Washroom 10:  0
Category: Apartment
Building Percentage: T
Total Area: 9,698.27
Total Area Code:  Square Feet
 Management Expense: 39933
Maintenance: 0
Vacancy Allowance: 20554
Net Income Before Debt: $715980
Expenses Actual/Estimated: $Act
Heat Type: Gas Hot Water
Central Air Conditioning: Partial
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SLEEPWELL REALTY GROUP LTD

280 Laurier Avenue East , Lower Town - Sandy Hill, K1N 6P5, Ottawa

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Maria Tompson
Sales Representative
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416-548-7854
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416-981-7184

 
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Type: Com - Investment
Area: Ottawa
Municipality: Lower Town - Sandy Hill
Neighbourhood: 4004 - Sandy Hill
Style:
Lot Size: x 105.00(Acres)
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Tax: $84,209
Maintenance Fee: $0
Beds: 0
Baths: 0
Garage: 0
Fireplace: N
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Personal Pic Maria Tompson Sales Representative Re/Max Example Inc, Brokerage Independently owned and operated. pic Cell: 416-548-7854 | Office: 416-548-7854
Personal Picture
Maria Tompson
Sales Representative
Re/Max Example Inc, Brokerage
Independently owned and operated.
support@bestforagents.com

 

 

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