575 Somerset Street W, Ottawa Centre, ON K1R 5K1
4102 - Ottawa Centre, Ottawa Centre · Near Lyon St N and Bay St. · View map
About this home
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.
The home
- Type
- Investment
- Bathrooms
- 4
- Lot size
- 33 x 112.5 ft
Ownership & fees
- Ownership
- Freehold
- Monthly condo fee
- None
Heating & cooling
- Heating type
- Gas Forced Air Open
- Air conditioning
- Partial
Garage & parking
- Garage
- Outside/Surface
- Driveway spaces
- 4
- Total parking
- 4
Taxes & other
- Property taxes
- $7,562/yr
- Tax year
- 2026
- Occupancy
- Tenant
- Possession
- Tenanted
- Cross street
- Lyon St N and Bay St.
- Neighbourhood
- 4102 - Ottawa Centre
More
- MLS® number
- X13758910
No matching details. Ask Will instead
No features listed yet.
- Mortgage
- Property tax
- Maintenance fee
Cash needed to close
Estimates only, using Canadian semi-annual compounding, Ontario land transfer tax. Mortgage default insurance is added when you put down less than 20%. Your lender and lawyer will confirm exact numbers.
575 Somerset Street, Ottawa Centre, ON K1R 5K1
4102 - Ottawa Centre, Ottawa Centre · Near Lyon St N and Bay St.
Get directionsWhat’s nearbySchools nearby
Open this tab to load nearby schools.
Your commute
Enter where you go every day to see real drive times:
Listing history for 575 Somerset Street
See what this home and others at the same address were listed for, what they sold for, and how long it took.
Sold prices are for members. It’s free, takes a few seconds, and unlocks the sale history on every listing.
Frequently asked questions about 575 Somerset Street W
Answers come straight from this home’s MLS® listing.
How much is 575 Somerset Street W listed for, and what would it cost each month?
575 Somerset Street W is listed for $895,000. With 20% down ($179,000), the mortgage payment would be roughly $3,610 a month at 4.5% over 30 years. Add property tax and the estimate comes to about $4,240 a month, all in. That figure is an illustration, not a quote.
Is 575 Somerset Street W freehold or a condo, and is there a monthly fee?
575 Somerset Street W is a investment in 4102 - Ottawa Centre, Ottawa Centre. Ownership is freehold: you own the home and the lot. There is no monthly condo fee, so the roof, windows, driveway, snow and lawn are yours to look after.
Does 575 Somerset Street W have a garage and parking?
Yes. The listing shows the garage as outside/surface. The driveway adds 4 spaces. In total the listing counts 4 parking spaces.
What style of home is 575 Somerset Street W?
575 Somerset Street W is an investment. Commercial property covers retail, office, industrial and investment buildings and businesses for sale or lease.
How big is 575 Somerset Street W, and what is the lot size?
The lot is listed as 33 x 112.5 ft.
How is 575 Somerset Street W heated and cooled?
Heating is gas forced air open. Cooling is partial.
What are the property taxes for 575 Somerset Street W?
Property taxes are $7,562 a year (2026), or about $630 a month.
Where is 575 Somerset Street W?
575 Somerset Street W is in the 4102 - Ottawa Centre community of Ottawa Centre. The nearest main intersection is Lyon St N and Bay St.. The postal code is K1R 5K1.
Is 575 Somerset Street W still for sale?
Yes. It is an active listing (MLS® X13758910). Listings here update from the board through the day and come down once a home sells.
What are similar properties near 575 Somerset Street W asking?
Similar properties for sale nearby right now include 636 Somerset Street W at $899,000, 464 Somerset Street W at $999,000 and 640 Somerset Street W at $639,900. These are asking prices, not sold prices. The Sold history tab shows what homes at this address went for.
What have homes at 575 Somerset Street sold for?
Recent sales, leases and expired listings for this home and others at the same address are in the Sold history tab, with the price and date of each. It is free for members.
How do I book a showing at 575 Somerset Street W?
Pick a day and time with Book a Tour on this page. Tours are free, with no obligation, in person or by video. You can also call or text 647-931-3923.
Have a different question? Ask about this home and get an answer, usually within the hour.
Similar properties nearby
More properties for sale near 4102 - Ottawa Centre, picked by style, size and price.
Commercial retail$899,000636 Somerset Street W, Ottawa Centre4103 - Ottawa CentreCourtesy of: CDN GLOBAL (OTTAWA) LTD.View home →
Office$999,000464 Somerset Street W, Ottawa Centre4 bath · 4103 - Ottawa CentreCourtesy of: PARADIGM COMMERCIAL REAL ESTATE & BROKERAGE INC.View home →
Commercial retail$639,900640 Somerset Street W, Ottawa Centre5 bath · 4103 - Ottawa CentreCourtesy of: ROYAL LEPAGE INTEGRITY REALTYView home →Courtesy of: PARADIGM COMMERCIAL REAL ESTATE & BROKERAGE INC.
Listing information comes from the Toronto Regional Real Estate Board through PropTx and is deemed reliable but is not guaranteed accurate. It is provided for consumers' personal, non-commercial use. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
*Estimated monthly cost assumes 20% down, a 4.5% rate and a 30-year amortization, plus property tax. For illustration only.