Property Description for 421 GILMOUR STREET
This beautifully renovated 3-story commercial building, located on prestigious Gilmour Street between Kent and Bank in the heart of Centretown Ottawa, presents an exceptional investment opportunity. Zoned GM (General Mixed Use), the property offers approximately 3000 square feet of versatile space, currently leased as office space with positive cashflow and a cap rate of over 5.5%. This zoning allows for a wide range of uses, including conversion into a multi-unit (triplex, fourplex, or more) to secure your retirement while enjoying a positive cashflow investment. A new roof installed in 2020 and full interior/exterior renovation (2022), including new luxury vinyl flooring, soundproofing, and updated electrical systems, ensure minimal maintenance costs. On-site parking for 6-7 cars would generate extra income, supplemented by ample street parking and a wheelchair accessible ramp, adds significant value and convenience to tenants. This prime location, combined with the extensive renovations, flexible GM zoning, and strong income potential, makes this property a truly rare find. (id:38686)
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Property Details
Property Tax
: $30,281 (2024)MLS® #
: X12376077
Home Features
Property Type
: MultiFamily
Interior Features
Heating
: Hot water radiator heatBasement
: Unfinished, N/A
Utilities
Sewer
: Sanitary sewer
Other
Parking Features
: No GarageExterior Features
: Brick
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