244, 250, 256, Hannah St, Ottawa, K1L 7N2

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Description

Own the Block!!! Prime Vanier-North Land Assembly with Exceptional Income & Redevelopment Potential. A rare and strategic opportunity to secure four side-by-side multi-family parcels at 244, 250, 256 & 258 Hannah Street in Ottawa's rapidly evolving Vanier-North. Together, they span approximately 18,100 sq. ft. with an impressive 181 feet of frontage just steps from the revitalized Montreal Road corridor. Currently improved with a legal duplex and three legal triplexes, the site delivers 11 fully tenanted units producing $233,700 in gross annual rent and $156,058 NOI. Suites range from bachelors to spacious 4-bedroom layouts, providing strong, diversified rental appeal. The property features a large paved parking lot between 250 & 256 Hannah and over 24 on-site parking spaces, a rare commodity in the core. Two detached garages add valuable storage income potential and are currently owner-occupied. Zoned R4UA-c, the site is primed for higher-density redevelopment. For visionary investors, theres the potential to expand further by incorporating adjacent 242 Hannah (50-foot lot) and 232-234 Hannah (MLS# X12314321, 40-foot lot), creating a contiguous 270-foot frontage and approximately 27,100 sq. ft. redevelopment footprint. This is an unmatched opportunity to hold for income, improve for stronger returns, or redevelop at scale in Ottawa's urban core. Assemblies of this size, zoning, and location rarely come to market and when they do, they don't last long. The possibilities are endless, secure your stake in Vanier's transformation today.

23 days

On Market

Investment

Property Type

$20,540 / Year

Est. Taxes

Apartment

Style

Covered

Garage

-

Basement

Location & Areas