438 Lewis Street, Ottawa, photo 1 1 / 24

$1,150,000

438 Lewis Street

Ottawa Centre, Ottawa, ON K2P0T3 · MLS® X13773320

  • 5Bedrooms
  • 5Bathrooms
  • 3Parking

About this property

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. (id:65933)

Type
Other
Category
Multi-family
Annual taxes
$7,817
Updated
Oct 26, 2026

Run the numbers

A quick investor's view. Change any figure; we'll do the full analysis with you.

Mortgage / mo–

Property tax / mo–

Net operating income / yr–

Cash flow / mo–

Cap rate–

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 Sutton Group - Ottawa Realty.

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

Similar listings in Ottawa Centre