Yuvraj Sharma
Realtor
C 21 Realty Centre, Brokerage
Independently owned and operated.
8550 Airport Road, Brampton, Ontario L6T5A3
Cell: 647-961-7334Office: 905-783-1000
$1,579,000
Available - For Sale
Listing ID: X12927004
514 Bay Street , Ottawa Centre, K1R 6B3, Ottawa
| 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. |
| Price | $1,579,000 |
| Taxes: | $11436.00 |
| Assessment Year: | 2025 |
| Occupancy: | Owner+T |
| Address: | 514 Bay Street , Ottawa Centre, K1R 6B3, Ottawa |
| Directions/Cross Streets: | McLeod Street and Bay Street |
| Rooms: | 16 |
| Bedrooms: | 10 |
| Bedrooms +: | 0 |
| Family Room: | F |
| Basement: | Unfinished |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 3 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Total Area: | 0.00 |
| Property Type: | Multiplex |
| Style: | 3-Storey |
| Exterior: | Brick |
| Garage Type: | None |
| (Parking/)Drive: | Private |
| Drive Parking Spaces: | 3 |
| Park #1 | |
| Parking Type: | Private |
| Park #2 | |
| Parking Type: | Private |
| Pool: | None |
| Approximatly Square Footage: | 3500-5000 |
| CAC Included: | N |
| Water Included: | N |
| Cabel TV Included: | N |
| Common Elements Included: | N |
| Heat Included: | N |
| Parking Included: | N |
| Condo Tax Included: | N |
| Building Insurance Included: | N |
| Fireplace/Stove: | N |
| Heat Type: | Baseboard |
| Central Air Conditioning: | None |
| Central Vac: | N |
| Laundry Level: | Syste |
| Ensuite Laundry: | F |
| Sewers: | Sewer |
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| RE/MAX HALLMARK REALTY GROUP |
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Yuvraj Sharma
Realtor
Dir:
647-961-7334
Bus:
905-783-1000
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Freehold - Multiplex |
| Area: | Ottawa |
| Municipality: | Ottawa Centre |
| Neighbourhood: | 4103 - Ottawa Centre |
| Style: | 3-Storey |
| Tax: | $11,436 |
| Beds: | 10 |
| Baths: | 6 |
| Fireplace: | N |
| Pool: | None |
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