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$ 1,199,999
Est. payment /mo
Active
391 GREENWOOD AVENUE Ottawa, ON K2A0X4
6 Beds
3 Baths
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1500 - 2000
Subdivision 5105 - Laurentianview
MLS® Listing ID X13812090
Bedrooms 6
Property Description
Prime Westboro Income Opportunity! An exceptional chance to own a fully updated, all-brick legal duplex with a fully permitted basement secondary dwelling unit, offering three self-contained two-bedroom units in one of Ottawa's most sought-after urban neighbourhoods. Set on a generous 49.02' x 66.0' lot, this income property combines strong cash flow, quality upgrades, and long-term upside. Each unit is separately hydro-metered and equipped with air conditioning, while two driveways provide valuable on-site parking for all the tenants. The property generates approximately $80,400 in annual gross rental income. Based on seller-provided operating expenses, the estimated Net Operating Income is approximately $60,775.63 per year, representing an estimated 5.07% cap rate. With refreshed interiors, solid in-place income, and a premium Westboro location close to shops, transit, parks, schools, beach and everyday amenities, this is a compelling opportunity for investors seeking immediate income with future growth potential. The property may also offer additional intensification possibilities, including the potential for another secondary dwelling unit or coach house/garden-suite-style development, subject to applicable zoning, planning, building code requirements, and municipal approvals. Buyer to independently verify all permitted uses and development potential. ps: The listing photos are of Apartment #1 only and were taken before the tenants moved in. Apartment #2 offers a similar layout and finish. The basement unit is approximately 200 sq. ft. smaller than the other units and includes two bedrooms, a full bathroom, kitchenette, living room, furnace room, mechanical room, and laundry room. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling Central air conditioning
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 6
Garage No
Private Pool No
Building
Story 2
Sewer Sanitary sewer
Listed by INNOVATION REALTY LTD.
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