$1,579,000
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514 Bay Street, Ottawa, ON K1R6B3

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10 Beds
6 Baths
- Sq Ft

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 new subfloors, flooring, upgraded kitchens and bathrooms, lighting, insulation, and new appliances in three units. The roof was replaced in 2023, helping reduce near-term capital expenses. For owner-occupiers, the vacant unit also presents the option to move in while the remaining units generate income to significantly offset or potentially cover your mortgage. (id:58753)

Listing By: Zaid Al-Tellawi - RE/MAX HALLMARK REALTY GROUP cncrea2 Realty.com
  • MLS® X12927004
  • Date Listed03/27/2026
  • Days on Realty 70 Days
  • Bedrooms 10
  • Bathrooms 6 baths
  • Lot Size -
  • Sewer Other
  • Property Type Other
  • Water Public

Interior Features

  • Cooling None
  • Heating Baseboard heaters, Forced air, Not known, Electric, Natural gas

Exterior / Lot Features

  • Roof -
  • Lot Size Acres -
  • Lot Size SQFT -
  • Lot Features Carpet Free

Directions

Cross Streets: McLeod Street and Bay Street. ** Directions: From Bank Street go west on Gladstone Avenue, turn right (north) onto Bay Street - property is on the right (514 Bay St).

Sales & Tax History

Source: Public Records

Local Neighborhood Highlights for K1R6B3

Discover key demographics, population statistics, and environmental insights for the Ottawa, ON area.

Walkability in ON / K1R6B3

Source: Walk Score

97/100

Walker's Paradise

Walk Score ®

73/100

Excellent Transit

Transit Score ®

88/100

Very Bikeable

Bike Score ®

Overview

Daily errands do not require a car. Transit is convenient for most trips. Biking is convenient for most trips.

Transit Summary

25 nearby routes: 24 bus, 1 rail, 0 other

Walkability averages in the surrounding area

The average walkability score in the surrounding area is Walk Score: 68/100, Transit Score: 61/100, Bike Score: 84/100.

Points of Interest near 514 BAY STREET, Ottawa, ON K1R6B3

Frequently Asked Questions for 514 BAY STREET

Source: Realty.com

514 BAY STREET, Ottawa, ON K1R6B3 in Ottawa, ON K1R6B3 is a other listed at $1,579,000. Highlights include 10 bedrooms, 6 bathrooms. Realty.ca has 31 photos, sales history, school insights, and mortgage tools for this listing.

Realty.com has 31 photos of 514 BAY STREET.

The full address for this home is 514 BAY STREET, Ottawa, ON K1R6B3.

514 BAY STREET has been listed on Realty.com since Fri March 27, 2026

Daily errands do not require a car. Transit is convenient for most trips. Biking is convenient for most trips.

The average walkability score in the surrounding area is Walk Score: 68/100, Transit Score: 61/100, Bike Score: 84/100.

Listing provided courtesy of: RE/MAX HALLMARK REALTY GROUP
Listing agent: Zaid Al-Tellawi

This content last refreshed on 2026-06-05 16:35:40. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.