Turnkey five-unit apartment building in Centretown offering immediate income and longer-term development potential. Over 300k in capital improvements over the last 10 years.The property is fully occupied and consists of three one-bedroom apartments and two bachelor units, with annual gross income of just over $79,000. The property may qualify for attractive CMHC MLI Select financing. Tenants pay their own hydro, while the landlord pays for heat and water. Additional income may be available from the on-site parking. The property sits on a 33' 99' lot and may be assembled with adjoining properties to create a development site of approximately 13,000 square feet. This property has a Walk Score of 100/100! Ideally located within walking distance of downtown, public transit, restaurants, shops and other amenities. A strong opportunity to acquire a stabilized income property with financing, rental and redevelopment upside. Contact the listing agent for further details regarding the potential land assembly, the rent roll & operating expenses. (id:25961)
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Rooms
| Level | Type | Dimensions |
|---|
Details
- Features: Lane
- Parking Spaces: 3
- Transaction: For sale
Building
- BasementType: Crawl space
- Bedrooms Main Level: 5
- Cooling: None
- Exterior Finish: Brick
- Fireplace Present: False
- Foundation: Stone, Concrete
- Bathrooms (Total): 5
- Heating: Baseboard heaters
- Heating Fuel: Electric
- Size Interior: 2000 - 2500 sqft
- Stories Total: 2
- Type: Other
- Utility Water: Municipal water
Land
- Sewer: Sanitary sewer
- Size Frontage: 33 ft ,1 in
- Size Irregular: 33.1 x 99 FT
Listing provided by SUTTON GROUP - OTTAWA REALTY
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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 438 LEWIS STREET in Ottawa Ontario. It was last modified on September 11th, 2026. Contact the Stuewe Team to schedule a viewing or to discover other Ottawa homes for sale.