538 Mutual Street, Ottawa, photo 1 1 / 24

$749,900

538 Mutual Street

Castle Heights, Ottawa, ON K1K1C6 · MLS® X13246548

  • 4Bedrooms
  • 3Bathrooms
  • 10Parking

About this property

Exceptional development opportunity in the heart of Castle Heights. Situated on a 60' x 111' lot and currently improved with a tenanted triplex providing holding income, this property offers compelling future redevelopment potential. A substantial rear concrete block building with high ceilings-larger than the existing residential structure-creates a rare opportunity for adaptive reuse or future development, subject to buyer due diligence and required approvals. Zoned N4B (buyer to verify), the property may support a variety of residential development concepts under Ottawa's evolving zoning framework. Located in a neighbourhood experiencing significant reinvestment and infill activity, this is an outstanding opportunity for builders, developers, and investors seeking both current income and long-term upside. AI renderings included for illustration purposes only. Buyers are advised to verify zoning, permitted uses, development potential, and all approvals required for their intended use. (id:65933)

Type
House
Category
Single Family
Annual taxes
$5,546
Updated
Jul 4, 2026

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Estimate only, not financial advice. Rent is reduced by vacancy, then management is taken on the rent collected; net operating income = that, less property tax and other costs; cap rate = net operating income ÷ price; cash flow also subtracts the mortgage (semi-annual compounding, as Canadian mortgages use). Vacancy default: CMHC Rental Market Report, Ottawa, October 2025.

Listed by Re/Max Delta Realty Team.

Listing data provided by REALTOR.ca DDF® and owned by The Canadian Real Estate Association (CREA). Deemed reliable but not guaranteed.

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