For Sale: 514 Bay Street, Ottawa, ON - REW
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$1,579,000
10 bd • 6 ba • 3500 - 4999 sf • Multifamily
514 Bay Street
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$1,579,000
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514 Bay StreetOttawa, ON, K1R 6B3

Centretown
  • 10 Bed
  • 6 Bath
  • 3500 - 4999 Sqft
  • Multifamily

About this home

Welcome to 514 & 516 Bay Street, an excellent opportunity to own a well-maintained 5+1-unit building in the heart of Centretown, offering a solid 6.4% cap rate and positive cash flow. This property combines stable income with immediate rental upside. Located on the corner of Bay and Gladstone, the building sits in a desirable residential pocket surrounded by established single-family homes and multi-unit properties. Just steps to downtown offices, shops, restaurants, and public transit, this prime location continues to attract consistent tenant demand. The property features four 2-bedroom units and two 1-bedroom units, providing a strong rental mix. One unit is currently vacant, offering the new owner the opportunity to set rent at today's market rate. There is a shared driveway with parking for three vehicles, adding further tenant appeal. Major updates were completed in 2022, including new subfloors, flooring, upgraded kitchens and bathrooms, lighting, insulation, and new appliances in three units. The roof was replaced in 2023, helping reduce near-term capital expenses. For owner-occupiers, the vacant unit also presents the option to move in while the remaining units generate income to significantly offset or potentially cover your mortgage. (id:63626)
Listed by: Zaid Al-Tellawi, Salesperson, RE/MAX HALLMARK REALTY GROUP

Home facts and features

Price details
List Price
$1,579,000
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Gross Taxes for 2025
$11,436
Home facts
Bedrooms
10
Full Bathrooms
6
Parking Spaces
3
Parking Details
No Garage
Property Type
Multifamily
Depth
99 feet
Frontage
37.0 feet
Exterior Finish
Brick
Heating Type
Baseboard heaters, Electric
Basement Details
Unfinished,
Features
Carpet Free
Community
Agent details
Primary Agent
Zaid Al-Tellawi
Primary Broker
RE/MAX HALLMARK REALTY GROUP
Listing details
Days on REW
72 Days
Property Views
31
MLS® Number
X12927004
Source
Canadian Real Estate Association
Board
Ottawa Real Estate Board
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Amortization
25 Years
Interest Rate
3.99%

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Property Insights

Glashan Public School
  • Public
  • 7 - 8
Cambridge Street Community Public School
  • Public
  • JK - 6
St Anthony Elementary School
  • Catholic
  • JK - 6
Centennial Public School
  • Public
  • JK - 8
Glebe Collegiate Institute
  • Public
  • 9 - 12
Corpus Christi Catholic Elementary School
  • Catholic
  • JK - 6
Elgin Street Public School
  • Public
  • JK - 6
First Avenue Public School
  • Public
  • JK - 6
Mutchmor Public School
  • Public
  • JK - 6
Lisgar Collegiate Institute
  • Public
  • 9 - 12
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Salesperson
Zaid Al-Tellawi
Phone:
(613) 979-6004
Office:
613-236-5959
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This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

By proceeding, you consent to receive communications using the methods provided, from REW.ca and our partners about your inquiry and other home-related matters to assist you in your search, but not as a condition of any purchase.