138 Somerset Street W 408, Ottawa Centre

$299,900
138 Somerset Street W 408

$299,900

New
22d
Condo ApartmentApartment

138 Somerset Street W 408, Ottawa Centre

Total Monthly Obligation $2,350

Beds
1
Baths
1
Park
0
Sqft
600-699
DOM
22d
Score
20
Yield
8.3%
Cash on Cash
-2.3%
Cap Rate
4.1%
5Y IRR
13.7%
10Y IRR
13.1%
Property Type-Condo Apartment
MLS® Number-X13847448
Beds-1
Bathrooms-1
Size-600-699 sqft
Listed on site-Oct 1, 2026
Style-Apartment
Building Type-Condo Apartment
Taxes-$3,567.9 (2026)
Maintenance-$643.44/mo
Locker-None
Parking-Underground
Basement-None
Heating-Forced Air (Gas)
Brokerage-ENGEL & VOLKERS OTTAWA
Cooling-Central Air
Laundry-Yes
Fireplace-No
Pool-None
Exterior-Stucco (Plaster), Other
Possession-Flexible
Neighbourhood-4104 - Ottawa Centre/Golden Triangle
Title-Residential Condo & Other

No agent assigned

Welcome to 408-138 Somerset St W, a bright one bedroom plus den at Somerset Gardens, right where Centretown meets the Golden Triangle. Step out the front door and the whole city is yours: Elgin Street patios, Bank Street shops, the Rideau Canal, City Hall, Parliament Hill and the government offices are all an easy walk. uOttawa is a short stroll, Carleton a quick transit ride, and the O-Train is minutes away. This is the address for people who want to live downtown, not just work there. Inside, the open living and dining area flows out to a private balcony made for morning coffee or an after-work glass of wine. The kitchen sits right in the mix, so nobody gets stuck cooking alone. The den is the flexible bonus: home office, reading nook, workout corner, whatever your week looks like. The bedroom is tucked away at the back for quiet, with a four-piece bath and in-suite laundry steps away. Floors and doors were updated in 2019 and the unit was freshly painted this fall, so it's move-in ready. Then there's the building. Take the elevator up to the rooftop terrace with its sunroom and communal BBQ and watch the sun set over the skyline. There's a party room, a library, a bike room and secure fob entry. Smoke-free throughout. Here's the part the spreadsheet will love: heat, central air and water are included in the condo fees. You pay hydro. That's it. No parking with this unit, and honestly, you won't miss it. Everything you need is on foot, transit is at the door, and street parking permits are available through the City. First-time buyer, grad student, young professional, downsizer craving a bit of buzz: this one's for you. Come see what downtown living feels like.

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%
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$
$
(utilities, internet...)
$
%
%

Closing Costs

Mortgage Amount
$239,920
Land Transfer Taxes$2,974
Legal Fees (Est.)
$
Total cash required for closing$64,454

Total Monthly Obligation

$2,350/mo
Mortgage $1,210
Monthly Loss $2,032
Principal$318
Interest$891
Property Tax$297
Condo Fees$643
Home Insurance$50
Variable Costs$150
Returns
Weight: 25%
Cap Rate
2.9%17
Cash-on-Cash
-9.0%1
5-Year IRR
9.0%29
10-Year IRR
10.3%
Returns Index
15.5/ 100
Growth Sentiment
Weight: 20%
%/yr
Score+50
%/yr
Score+50
%
%
Growth Index
50.0/ 100
GradeD
20/ 100
Avoid•Pass

Strategy: Buy & Hold — Weights: CFI 35% · RI 25%
RKI 20% · GI 20%

Assumptions & Inputs
$/mo
%
$
yr
%
Cash Flow
Weight: 35%
Gross Rent
$24,864/yr
NOI
$8,688/yr
Net Cash Flow
-$486/mo
Cash Margin
-23.4%0
Cash Flow Index
0.0/ 100
Risk Profile
Weight: 20%
DSCR
0.607
LTV Ratio
80.0%18
Vacancy Buffer
4.1 mo70
Risk Index
31.8/ 100

*This analysis is independently generated NOT provided by TREB or CREA.

Comparables

Properties near 138 Somerset Street W 408

Time

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Data last updated within the past 24 hours.