514 BAY STREET

Key facts

• Property type: Multi-family
• Structure: Other
• Transaction: For Sale
• Price: class="container" id="details-container",579,000
• Bedrooms: 10
• Bathrooms: 6
• Lot size: 37 x 99 FT
• Parking: 3
• Listing key: 29523386

Listing overview

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...