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:4069)
Address
391 GREENWOOD AVENUE
List Price
$1,199,999
Property Type
Multi-family
Type of Dwelling
Triplex
Transaction Type
Sale
Area
Ontario
Sub-Area
Ottawa
Bedrooms
6
Bathrooms
3
Floor Area
1500 - 2000 Sq. Ft.
Lot Size
49 x 66 FT Sq. Ft.
Lot Depth
66 ft
Frontage Length
49 ft
MLS® Number
X13812090
Listing Brokerage
INNOVATION REALTY LTD.
Basement Area
N/A
Postal Code
K2A0X4
Parking Places (Total)
6
Features
Carpet Free, Sump Pump
Appliances
Water Heater
Amenities
Separate Electricity Meters
Heat Source
Natural gas
Heat Type
Forced air
Cooling Features
Central air conditioning
Foundation Details
Block
Number Of Floors In Building
2
Water Source
Municipal water
Sewer
Sanitary sewer
