185 Preston St is a triplex in West Centre Town, listed for $789,900. It has 1500-2000 sq ft of living space.
1Prime redevelopment and value-add opportunity in the heart of Ottawa's Little Italy.
2Extensive pre-development work has been completed, including architectural drawings, structural review, Hydro Ottawa clearance review, mechanical design and permit-related submissions.
Prime redevelopment and value-add opportunity in the heart of Ottawa's Little Italy. Existing triplex with approved plans and supporting consultant reports for conversion to a mixed-use building consisting of a ground-floor commercial unit and two residential units above. Extensive pre-development work has been completed, including architectural drawings, structural review, Hydro Ottawa clearance review, mechanical design and permit-related submissions. Purchasers benefit from significant time savings by acquiring a project that has already progressed through the planning and design process. The proposed design retains the existing structure while introducing a modern mixed-use layout suited for retail, professional office, service commercial or similar permitted uses. Rear parking available. Located within one of Ottawa's most established urban corridors, minutes from Dow's Lake, the future Ottawa Senators arena district, Chinatown, the Rideau Canal, public transit and major employment nodes. An excellent opportunity for builders, contractors, investors and owner-operators seeking a manageable urban infill project with substantial due diligence already completed. (Renderings depict a conceptual representation of the proposed redevelopment)
works out to roughly $527 per square foot. Chat with Zara if you'd like a deeper read on whether this triplex fits your budget and timing.
Inside 185 Preston St
Every detail from the listing, in one place.
Type
Triplex
Style
2-Storey
Living space
1500-2000 sq ftas stated on the listing
Parking
2 spaces
Basement
Other
Features & systems
Parking & garage
Parking spaces
2
Interior
Basement
Other
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
2-Storey
Property class
Triplex
185 Preston St Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® X13477190$789,900
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 185 Preston St Compares to the West Centre Town Market
Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.
Independent mortgage broker · OAC · rates subject to change and underwritingMortgage Squad →
Referral disclosure: Summitly may refer you to Mortgage Squad Advisors, an affiliated mortgage partner. You are free to choose any lender or mortgage professional.
Monthly cost
Enter a rate to see the monthly cost
An estimate, not a quote. Utilities and insurance are extra.
Affordability calculator
Estimated monthly payment
$3,881
/mo
based on the purchase price of $789,900
$157,980 cash
$631,920 financed
$532,243 total interest
Principal54%$631,920
Interest46%$532,243
20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.
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Figures are Summitly estimates for illustration only — not from TRREB or the MLS® feed, and not a mortgage approval, appraisal, or financial advice.
Rental income potential
Est. monthly rent
low–high
Gross yield
rent × 12 ÷ price
Cap rate (est.)
net of tax + fees
Summitly AI estimate for discussion only — not from TRREB or the MLS® feed, and not an appraisal or investment advice. Yield and cap rate are derived from the estimated rent versus the asking price.
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Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Similar homes for sale nearby in West Centre Town
Other 3–4 bed homes for sale in West Centre Town around $790K.
Average days on market36Homes sold in about 36 days on average.
Sale-to-list ratio96.8%On average, homes sold below asking.
Active listings105Homes for sale here right now.
Median vs prior 90 days−16.4%Compared with May 13 – Aug 11, 2026: prices down.
Based on 55 sales from Aug 11 – Nov 9, 2026 (52 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
185 Preston St is listed at $789,900 (MLS® X13477190). Summitly updates the price as soon as the MLS® record changes.
Is $789,900 a good price for 185 Preston St?
Summitly rates it Excellent Deal: the asking price is 10% or more below Zara's estimate, an estimate built from recent sales in West Centre Town. The rating is an automated opinion, not an appraisal; "What's it worth?" on this page shows how it is worked out. See Zara's estimate
Has the price of 185 Preston St changed?
No — 185 Preston St is still listed at its original asking price of $789,900.
How many bedrooms and bathrooms does 185 Preston St have?
185 Preston St has about 1,500–2,000 square feet of living space. The listing doesn't publish a bedroom or bathroom count. It is a triplex in West Centre Town.
Is 185 Preston St close to transit?
The nearest rapid-transit station is Corso Italia Station (O-Train Line 2), about 300 m (about a 4-minute walk) in a straight line. Bayview Station is about 790 m (about a 10-minute walk), and Pimisi Station is about 810 m (about a 10-minute walk). Distances are straight-line, not walking routes; check the transit agency for routes and schedules.
How much would the monthly mortgage be on 185 Preston St?
About $3,881 a month — principal and interest on $789,900 with 20% down ($157,980), a 25-year amortization and an assumed 5.5% interest rate. The mortgage calculator on this page lets you change the down payment, amortization and rate.
How does 185 Preston St compare with other homes in West Centre Town?
Its asking price of $789,900 is about 34% above the median sold price in West Centre Town over the last 90 days, $590,000, across 55 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Has 185 Preston St been sold before?
Summitly has no earlier MLS® sale or lease of 185 Preston St on record from the last two years. Older records aren't shown under TRREB rules.
Where is 185 Preston St?
185 Preston St is in West Centre Town, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 185 Preston St been on the market?
141 days — 185 Preston St was listed on June 21, 2026.
What is the price per square foot of 185 Preston St?
About $395 to $527 per square foot: the asking price of $789,900 over the 1,500–2,000 sq ft the listing gives as its size range.
