640 Somerset Street, Ottawa Centre, ON
Property Highlights
Welcome to this remarkable commercial retail located in the coveted neighborhood of Ottawa Centre. Offering a sublime balance of structural integrity and modern aesthetic appeal, this residence presents an exceptional opportunity offered at $749,900 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 0 Bedrooms and 0 Bathrooms
- Premium 25.85 x 110.01 ft lot size
- equipped with no central cooling and highly efficient gas forced air open heating
Description
INVESTORS & DEVELOPERS! Currently generating $7,042/month ($84,504/year) in gross rental income, this rare detached mixed-use property in the heart of Centretown West offers exceptional flexibility and future potential. The upper residential unit is rented for $2,300/month, the main-floor commercial space for $3,842/month through 2027, plus $900/month from the rear space. Zoned TM(2185) H(16), the property offers residential and commercial possibilities and multiple income streams. The main level is currently configured as commercial space, while the self-contained upper unit features a separate entrance and private second-floor balcony. Significant improvements were completed in 2022, including updated appliances and interior upgrades. Additional features include a dry basement and major system updates including roof and furnace. Ideally positioned on Somerset St W in vibrant Chinatown, just minutes from Little Italy, LeBreton Flats, downtown, shops, restaurants, transit and the LRT. Strong income today with exciting long-term potential. (Buyer to verify zoning, permitted uses and redevelopment possibilities. Sold as is)
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Property Summary
This commercial retail located at 640 Somerset Street, Ottawa Centre is currently for sale and has been available on SousaSells for 7 days. This property is listed at $749,900 with an estimated mortgage of $2,496* per month. It has 0 beds, 0 bathrooms, and is unknown square feet. 640 Somerset Street, Ottawa Centre is in the Ottawa Centre neighborhood.
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* Estimated mortgage assumes a 30% down payment, 4.00% interest rate, and 30-year amortization.Ideal for small families, couples, or individuals seeking a manageable and comfortable living layout in Ottawa Centre, Ottawa Centre.
- •Desirable Commercial Retail architecture in Ottawa Centre, Ottawa Centre
First-time home buyers, professionals, or investors seeking value.
Key Features
Additional Details
Property Details
Parking & Garage
Heating & Cooling
Features
Property Features
None listed
Interior Features
None listed
Security Features
- No
Community Features
None listed
Property History
No historical data available for this property.
This could be the first listing for this address.
Looking to Buy a Home in Ottawa Centre?
If you are looking for a house in Ottawa Centre or researching Ottawa Centre real estate for sale, this commercial retail at 640 Somerset Street, Ottawa Centre, ON offers an exceptional opportunity to buy a home in Ottawa Centre, Ontario. Whether you are a first-time Ottawa Centre home buyer or comparing active Ottawa Centre MLS® homes for sale, working with a dedicated Ottawa Centre buyer agent ensures you receive priority showing access, unrepresented buyer protection, and aggressive price negotiation.
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Ottawa Centre Buyer Budget & Costs
Estimated mortgage: $2,496*/month*. Estimated Ontario Land Transfer Tax: $11,473. First-time Ottawa Centre home buyers may qualify for up to $8,475 in rebates.
Frequently Asked Questions: Buying a Home in Ottawa Centre
Frequently Asked Questions about 640 Somerset Street, Ottawa Centre, ON
Q.What is the asking price for 640 Somerset Street, Ottawa Centre, ON ?
The current listing price for 640 Somerset Street, Ottawa Centre, ON in Ottawa Centre, Ottawa Centre is $749,900.
Q.How many bedrooms and bathrooms does this property have?
This property features null bedrooms and null bathrooms.
Q.What property type and architectural style is 640 Somerset Street, Ottawa Centre, ON ?
640 Somerset Street, Ottawa Centre, ON is a Commercial Retail () featuring a basement.
Q.What security features are installed at 640 Somerset Street, Ottawa Centre, ON ?
Security features include: No.
Q.What heating and cooling systems are installed?
Heating is provided via standard central heat and cooling via No.
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Location
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Open in Google MapsNeighborhood Safety & Crime Analytics
Ottawa Centre, Ottawa Centre
8 assaults (30.0/100k)
8 B&E (30.0/100k)
10 thefts (35.0/100k)
Improving vs previous year
Formula: (Annual Occurrences / Population) Ă— 100,000. This standard policing calculation normalizes incident frequencies across different population sizes, allowing accurate safety comparisons between quiet residential pockets and dense urban centres.
Disclaimer: Crime and safety analytics are compiled from official municipal and regional police open data records for general consumer informational and demographic research purposes only. Data is deemed reliable but is not guaranteed and does not constitute a legal representation or guarantee of future safety.
Pricing & Value Insights
Data-driven valuation for 640 Somerset Street W, Ottawa Centre, ON K1R 5K4
Based on 0 recent similar sales in the pocket.
Properties in this area are selling at a steady pace.
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About Purchasing a Home in Ottawa Centre, ON
For a property listed at $749,900 in Ottawa Centre, the legal minimum down payment is $49,990 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $11,473 for this transaction. As this listing is in Ottawa Centre (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $11,473.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.
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