10 Bed, 6 Bath Multi-Family for Sale in Ottawa – 514 BAY STREET, Ottawa – MLS# X12927004

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10 Bed, 6 Bath Multi-Family for Sale in Ottawa – 514 BAY STREET, Ottawa – MLS# X12927004 - Image 1
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10 Bed, 6 Bath Multi-Family for Sale in Ottawa – 514 BAY STREET, Ottawa – MLS# X12927004 - Image 5
10 Bed, 6 Bath Multi-Family for Sale in Ottawa – 514 BAY STREET, Ottawa – MLS# X12927004 - Image 6
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10 Bed, 6 Bath Multi-Family for Sale in Ottawa – 514 BAY STREET, Ottawa – MLS# X12927004 - Image 9
10 Bed, 6 Bath Multi-Family for Sale in Ottawa – 514 BAY STREET, Ottawa – MLS# X12927004 - Image 10
10 Bed, 6 Bath Multi-Family for Sale in Ottawa – 514 BAY STREET, Ottawa – MLS# X12927004 - Image 11
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Active
$1,579,000

514 BAY STREET, Ottawa

10 Beds • 6.0 Baths • Multi-Family
MLS# X12927004
  • Multi-Family
  • Spacious 10-bedroom layout
  • Ottawa location
613-369-5199

Ask Peter Sagos about this property

About This Property

Welcome to 514 & 516 Bay Street, an excellent opportunity to own a well-maintained 5+1-unit building in the heart of Centretown, offering a solid 6.4% cap rate and positive cash flow. This property combines stable income with immediate rental upside. Located on the corner of Bay and Gladstone, the building sits in a desirable residential pocket surrounded by established single-family homes and multi-unit properties. Just steps to downtown offices, shops, restaurants, and public transit, this prime location continues to attract consistent tenant demand. The property features four 2-bedroom units and two 1-bedroom units, providing a strong rental mix. One unit is currently vacant, offering the new owner the opportunity to set rent at today’s market rate. There is a shared driveway with parking for three vehicles, adding further tenant appeal. Major updates were completed in 2022, including new subfloors, flooring, upgraded kitchens and bathrooms, lighting, insulation, and new appliances in three units. The roof was replaced in 2023, helping reduce near-term capital expenses. For owner-occupiers, the vacant unit also presents the option to move in while the remaining units generate income to significantly offset or potentially cover your mortgage. (id:66401)

Property Details

Bedrooms 10
Bathrooms 6.0
Property Type Multi-Family

Location

514 BAY STREET, Ottawa, Ontario, K1R6B3

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14 Chamberlain Ave. #101, Ottawa, ON K1S 1V9

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Regarding: 10 Bed, 6 Bath Multi-Family for Sale in Ottawa – 514 BAY STREET, Ottawa – MLS# X12927004

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$1,579,000
514 BAY STREET, Ottawa
10 Beds • 6.0 Baths • Multi-Family
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