280 Laurier Avenue E Ottawa, Ontario K1N 6P5

$18,950,000

A rare opportunity to acquire a purpose-built 40-unit building in the heart of Sandy Hill, within downtown Ottawa, delivering an impressive NOI of $715,980 and a major built-in value-add. Included with the offering is an approved, permit-ready addition directly beside the existing building, allowing for the development of 18 additional units, a future expansion opportunity exceptionally hard to find in today's market. All suites have been fully renovated since 2020, and along with the modernized finishes, unit layouts were thoughtfully optimized to improve livability and long-term rental performance. Previous ownership also completed substantial infrastructure upgrades, including hydro vault (2006), elevator rebuild to new (2010), roof (2012), lobby doors (2012), dual boilers (2014), and balcony updates (2015). These capital improvements significantly reduce near-term maintenance exposure while supporting premium furnished rents. The building offers a desirable mix of studio, one-bedroom, and two-bedroom suites, all fully furnished and with utilities included, attracting a strong and dependable tenant base of young professionals and students. Located along Laurier Avenue, the property benefits from unmatched proximity to downtown amenities, Ottawa University, government offices, and major transit corridors, making these units consistently easy to lease. This is a high-performing, centrally located multi-residential asset with a dynamic tenant pool, fully updated interiors, substantial capital improvements, and a shovel-ready expansion opportunity. (id:43934)

Property Details

MLS® Number	X12543018
Property Type	Multi-family
Neigbourhood	Sandy Hill
Community Name	4004 - Sandy Hill

Building

Cooling Type	Partially Air Conditioned
Heating Fuel	Natural Gas
Heating Type	Hot Water Radiator Heat
Size Exterior	9698.27 Sqft
Size Interior	9,698 Ft2
Type	Multi-family
Utility Water	Municipal Water

Land

Acreage	No
Size Irregular	Bldg=92.63 X 105 Acre
Size Total Text	Bldg=92.63 X 105 Acre
Zoning Description	R4s[480]

https://www.realtor.ca/real-estate/29101457/280-laurier-avenue-e-ottawa-4004-sandy-hill