296 Somerset is for Sale for the first time. This is 5 Unit Building with 4 residential apartments and a commercial space on the main floor. Priced at $3,700,000.

Easy to rent at premium prices, this Sandy Hill 5 unit building at 296 Somerset St. East was built in 2021 and gives investors years of minimal maintenance expenditures. It's comprised of 4 residential apartments; each with 4 bedrooms. The 5th unit is Safi Fine Food retail & cafe. 

Each unit has its own high-efficiency furnace, AC, hydro meter and in-unit laundry. 

The building is 3 stories plus finished basement. 

According to attached floor plans unit sizes are;

• Apt. #1 848 sq. ft. (basement) 
• Apt. #2 690 sq. ft. (2nd floor) 
• Apt. #3 844 sq. ft. (2nd/3rd floor) 
• Apt. #4 690 Sq. ft. (3rd floor) Leased
• Retail business is 952 sq. ft. 

Exterior is primarily brick & Hardie Board siding, roof is membrane. 

Owner pays water & WI-FI. Tenants pay heat & hydro except #3, which will be rectified at end of lease. 

Gross income is $235,498. 

Expenses $44,466. 

Net income $191,109. (before mortgage payment)

Hot water is an owned tankless system. 

The building is four blocks from the University of Ottawa so there's always a massive tenant pool. 

Public bus transit right on Somerset Street and the Light Rapid Train system has its own stop right at UOttawa! 

A few blocks to Minto Sports complex, Sandy Hill arena, and all necessary shops and services on Rideau St. This is an investor's dream property, now being offered for the first time. 

Fenced back yard for tenants' enjoyment.

Inclusions; 4 Refrigerators, 4 Stoves, 4 Washers, 4 Dryers, 4 Dishwashers, 4 flat screen TV's, security cameras and router.