404-406 Bank Street Ottawa, Ontario K2P 1Y9

$1,600,000

SHOVEL-READY Apartment Building, an exceptional DEVELOPMENT OPPORTUNITY at the CORNER of Bank St& Florence St. It comes with an APPROVED BUILDING PERMIT for a 6-storey mixed-use building, offering immense potential for an astute developer or investor. This property boasts unparalleled visibility and access in the HEART of OTTAWA. Your future tenants will have immediate access to popular shops, diverse dining options, cultural attractions, and efficient public transit. This CENTRAL LOCATION ensures strong TENANT DEMAND and excellent returns. The approved permits allow for a thoughtfully designed 6-storey building featuring ground-floor commercial space and 28 residential units above. The innovative design strategy FORCUSES on MAXIMIZING rental potential with 7 well-appointed 1-bedroom units and 21 efficiently designed bachelor units (resembling a 1-bedroom-like layout). This strategic unit mix targets a highly competitive segment of the rental market, where smaller, doorstep transit, and smartly designed units are in high demand and typically easier to rent. This approach sets your development apart from the standard 1-bed and 2-bed offerings, a distinct advantage in the Ottawa rental landscape. These crucial studies and designs represent a significant DE-RISKING for the buyer, providing a clear path forward and SAVING YEARS of valuable time and effort. While the existing approved designs offer a streamlined development path, a buyer who prefers to revise elements can still leverage the extensive pre-development work. READY TO BUILD: Significant Savings & Speed to Market! (id:37072)

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https://www.realtor.ca/real-estate/29558461/404-406-bank-street-ottawa-4103-ottawa-centre