30
$2,395,000
342 Frank Street, Ottawa Centre, ON K2P 0Y1
Ottawa Centre
20 bd
7 ba
5,000 sf
2 months on marketMLS® X13527154
Listing courtesy of ROYAL LEPAGE PERFORMANCE REALTY
Ottawa Centre · K1R 5J7
$2,240,000
$448 / sq ft7 months on market
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$2,395,000
Ottawa Centre
Listing courtesy of ROYAL LEPAGE PERFORMANCE REALTY
Welcome to 455/457 Somerset Street West a rare opportunity to acquire a turnkey 6-unit building in one of Ottawa's most vibrant and in-demand rental locations. This well-maintained property generates a strong NOI of $125,496.90, with a 5.60% cap rate, and bonus immediate upside: 1 purposely positioned vacant unit is ready for renovation, allowing the next owner to quickly increase rental income and unlock further value. Each of the six units offers a spacious, thoughtfully designed layout that promotes long-term tenant satisfaction. With a tenant profile geared toward young professionals and transient renters, there is considerable potential to elevate rents to market levels with minimal capital investment. Situated in the heart of Centretown, steps to shops, restaurants, universities, and transit, this asset benefits from both premium location and consistent rental demand. Investors will appreciate the mix of stability and opportunity ideal for portfolio growth or as a high-performing entry into Ottawa's multi-residential market. Feature sheet available which breaks down all unit sizes and lease information.
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What this home costs beyond the asking price, and how that price compares to what else is on the market.
This home is priced above most comparable listings — about 94% of comparable multiplex listings in Ottawa Centre are asking less.
Based on 16 comparable active multiplex listings in Ottawa Centre. These are asking prices, not sale prices.
Estimate only. Excludes CMHC insurance premiums, which apply below 20% down, and does not constitute a mortgage approval or an offer of credit.
Payable on closing, on top of the purchase price.
An estimate on the asking price of $2,240,000. Rates current as of September 2026; confirm the final figure with your real estate lawyer.
Listing courtesy of SLEEPWELL REALTY GROUP LTD. Listing data is provided in part by the Toronto Regional Real Estate Board (TRREB) and is deemed reliable but is not guaranteed accurate. Information is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties. Data is updated every 15 minutes.