280 Laurier Avenue
Lower Town - Sandy Hill, ON
9,698 sqft • Investment • 151 days on market
$13M CMHC-insured 3.75% 40 year assumable Mortgage - 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.
Listing Details
- Taxes (2025)
- $84,209
- Listed
- March 24, 2026
Price History
Property
- Lot Size
- 0.15 Acres
Location & Legal
- Cross Street
- Laurier & Sweetland
- Zoning
- R4S[480]
- Parcel Number
- 042090064
- Possession
- Flexible
Commercial
- Occupancy
- Tenant
Included
- Inclusions
- Units are furnished and furnishing included in sale. List of inclusions to be provided upon Conditional Offer
- Exclusions
- Tenant belongings
Community
Postal area K1N
- Population
- 26,639
- Private dwellings
- 17,122
- Median age
- 34
- Average household size
- 1.8
- Median household income
- $64,000
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Commercial in Lower Town - Sandy Hill · last 12 months
- Median sold price
- $470,000
- Homes sold
- 229
- Median days on market
- 35
- Sale-to-list price
- 96.7%
Based on 229 recorded sales of commercial properties in Lower Town - Sandy Hill over the last 12 months.
Listed by
SLEEPWELL REALTY GROUP LTD
Location
Commercial figures
- Building area
- 9,698 sq ft
- Price per sq ft
- $1,639.51
- Annual property tax
- $84,209
- Tax per sq ft
- $8.68
Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.
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