185 Preston Street
West Centre Town, ON
- approx. 1500-2000 sqft
- Triplex
- 80 days on market
Prime redevelopment and value-add opportunity in the heart of Ottawa's Little Italy. Existing triplex with approved plans and supporting consultant reports for conversion to a mixed-use building consisting of a ground-floor commercial unit and two residential units above. Extensive pre-development work has been completed, including architectural drawings, structural review, Hydro Ottawa clearance review, mechanical design and permit-related submissions. Purchasers benefit from significant time savings by acquiring a project that has already progressed through the planning and design process. The proposed design retains the existing structure while introducing a modern mixed-use layout suited for retail, professional office, service commercial or similar permitted uses. Rear parking available. Located within one of Ottawa's most established urban corridors, minutes from Dow's Lake, the future Ottawa Senators arena district, Chinatown, the Rideau Canal, public transit and major employment nodes. An excellent opportunity for builders, contractors, investors and owner-operators seeking a manageable urban infill project with substantial due diligence already completed. (Renderings depict a conceptual representation of the proposed redevelopment)
Listing Details
- Taxes (2025)
- $4,614
- Listed
- June 21, 2026
Price History
Listing history
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Property
- Style
- 2-Storey
- Construction
- Brick, Brick Front
- Roof
- Flat
- Foundation
- Concrete
- Interior
- None
- Lot Size
- 24 x 100 Feet
Parking
- Garage
- None
- Covered Spaces
- 0
- Total Parking
- 2
Utilities
- Sewer
- Sewer
- Heat Source
- Gas
Location & Legal
- Cross Street
- Preston st and Willow St
- Parcel Number
- 041080178
- Possession
- Immediate
- Occupancy
- Vacant
Schools
Secondary
- Adult High School0.3 km
Public · Ottawa-Carleton DSB · 1010 students
- École secondaire catholique Saint-Jean-Baptiste0.6 km
French Catholic · CSDC du Centre-Est de l'Ontario
- Richard Pfaff Secondary Alternate Site0.9 km
Public · Ottawa-Carleton DSB · 225 students
Elementary
- St Anthony Elementary School0.3 km
Catholic · Ottawa CSB · 105 students
Grade 3 reading: 100% met the provincial standard
- Devonshire Community Public School0.5 km
Public · Ottawa-Carleton DSB · 300 students
Grade 3 reading: 85% met the provincial standard · Grade 6 math: 65% met the provincial standard
- Cambridge Street Community Public School0.6 km
Public · Ottawa-Carleton DSB · 95 students
Grade 6 math: 23% met the provincial standard
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
Community
Postal area K1R
- Population
- 20,343
- Private dwellings
- 12,836
- Median age
- 36
- Average household size
- 1.7
- Median household income
- $74,000
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
Residential Freehold in West Centre Town · last 12 months
- Median sold price
- $671,000
- Homes sold
- 175
- Median days on market
- 20
- Sale-to-list price
- 98.1%
Based on 175 recorded sales of residential freehold properties in West Centre Town over the last 12 months.
Listed by
RIGHT AT HOME REALTY
Walk Score
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Location
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Mortgage Calculator
$157,980
Estimated Monthly Payment
$3,881
Land transfer tax
Ontario land transfer tax only. An estimate — not legal or financial advice. Municipal land transfer tax applies in Toronto and is not included.
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $3,881/mo (20% down, 5.5%)
Taxes: $385/mo · Insurance: $197/mo
Estimates only. Consult a financial advisor.
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