PRIME DEVELOPMENT SITE offers a fantastic opportunity to build an 8-unit apartment building in one of Ottawa's most sought-after neighborhoods, Centretown West. The property includes all necessary documentation to proceed immediately, a survey, full architectural working drawings, and completed environmental and engineering studies. The proposed building consists of 8 units: seven one-bedroom+den apartments (designed to easily convert into two-bedroom units post-construction) and one accessible one-bedroom unit. The design features in-suite laundry for each unit, and bike racks are provided for residents, as there is no parking on-site. The existing building is vacant, boarded, and ready for demolition, with utilities already capped, ensuring a smooth transition for the new owner. Site is perfectly situated next to a brand-new condo and across from other new developments, ensuring strong future rental demand. This is an ideal opportunity for developers to acquire a well-prepared project in This property sits in the heart of West Centre Town, one of the most vibrant and sought-after neighborhoods in the city. With a high walk score, everything you need is just steps away trendy cafes, top-rated restaurants, boutique shopping, lush parks, and excellent public transit options. You're within walking distance of downtown, Little Italy, Chinatown, and Hintonburg, offering an incredible mix of cultural experiences, nightlife, and community charm. Whether commuting, dining out, or enjoying the city's best amenities, this location offers unmatched convenience and urban living at it's finest. With building permits ready and a fully approved design, you can start construction immediately. The estimated market value for the fully completed development, fully rented at market rates, exceeds $3.5M, offering excellent potential for long-term investment or profitable resale! Don't miss this amazing investment opportunity!
Address
13 Balsam Street
List Price
$949,900
Property Type
Commercial
Type of Dwelling
Investment
Area
West Centre Town
Sub-Area
4205 - West Centre Town
County
Ottawa
Lot Depth
107
Lot Type
Lot
Lot Size Units
Feet
Lot Width
34.25
MLS® Number
X11979477
Listing Brokerage
EXP REALTY
Postal Code
K1R 6W7
Tax Year
2024
Heat Type
Other
Cooling Features
No
Garage Type
None
