248 GARNEAU STREET, Ottawa
- Multi-Family
- Spacious 4-bedroom layout
- 4-car parking
- Ottawa location
Ask Peter Sagos about this property
About This Property
The CASH FLOW property you’ve been waiting for, just steps off Beechwood Avenue! This fully tenanted three-unit home sits half a block from the heart of Beechwood Village. Cafes, restaurants, bakeries, grocery and transit are all at your doorstep, with New Edinburgh, Rockcliffe Park and the Rideau River pathways a short walk away and downtown and the ByWard Market only a 10 minute bike ride away. Locations like this rarely come to market, and tenant demand here is relentless. INVESTORS: 6.5% CAP RATE. Based on the current rent roll and the seller’s 2025 operating costs, gross income is $61,167, operating expenses are just $13,756 and NET OPERATING INCOME is $47,411. That’s over $850/month(10,266/year) in positive cash flow at conventional financing. Three self-contained units: a 2 bedroom main floor, a 1 bedroom plus 2 den upper and a 1 bedroom lower level. Each unit has its own in-suite laundry and its own hydro meter (tenants pay hydro). There are 4 PARKING SPOTS, rare for the area! Three are rented to the tenants for $1,800/year, and the fourth is available, an easy opportunity for additional income. FANTASTIC tenants are in place. The big-ticket items are DONE. A high-efficiency gas furnace and owned tankless water heater were installed in 2024, so there’s no rental equipment. An engineered partial foundation replacement with a new sump pump was completed in 2021 and 2024, with over $83,000 invested. The front porch and its support wall were rebuilt in 2026, and the kitchens were updated in Unit 2 (2018) and Unit 3 (2022). Low expenses, low maintenance and professionally managed, this is a true turnkey investment in one of Ottawa’s most walkable pockets. Full financial package and pre-inspection available on request. (id:66401)
Property Details
Building & Features
Building
- Building type
- Triplex
- Storeys
- 2
- Exterior
- Stucco
- Foundation
- Block, Concrete
Interior
- Basement
- Finished, Full
- Bedrooms above grade
- 4
- Heating
- Baseboard heaters, Forced air, Natural gas
- Cooling
- Central air conditioning
- Fireplace
- No
- Appliances
- Refrigerator, Dishwasher, Stove, Dryer, Two Washers, Water Heater
Parking
- Garage and parking
- Other, No Garage
Lot and land
- Lot dimensions
- 40 x 100 FT ; 0
- Frontage
- 40 ft
- Lot features
- Sump Pump
- Zoning
- Res
- Water
- Municipal water
- Sewer
- Sanitary sewer
- Utilities
- Electricity
Location
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