248 Garneau Street Ottawa, Ontario K1L 7T8
$725,000
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:19512)
Property Details
| MLS® Number | X14153340 |
| Property Type | Multi-family |
| Community Name | 3402 - Vanier |
| Amenities Near By | Public Transit, Park |
| Features | Sump Pump |
| Parking Space Total | 4 |
Building
| Bathroom Total | 3 |
| Bedrooms Above Ground | 4 |
| Bedrooms Total | 4 |
| Appliances | Water Heater, Dishwasher, Dryer, Stove, Two Washers, Refrigerator |
| Basement Development | Finished |
| Basement Type | Full (finished) |
| Cooling Type | Central Air Conditioning |
| Exterior Finish | Stucco |
| Foundation Type | Concrete, Block |
| Heating Fuel | Natural Gas |
| Heating Type | Baseboard Heaters, Forced Air |
| Stories Total | 2 |
| Size Interior | 1100 - 1500 Sqft |
| Type | Triplex |
| Utility Water | Municipal Water |
Parking
| Other | |
| No Garage |
Land
| Acreage | No |
| Land Amenities | Public Transit, Park |
| Sewer | Sanitary Sewer |
| Size Depth | 100 Ft |
| Size Frontage | 40 Ft |
| Size Irregular | 40 X 100 Ft ; 0 |
| Size Total Text | 40 X 100 Ft ; 0 |
| Zoning Description | Res |
Utilities
| Electricity | Installed |
https://www.realtor.ca/real-estate/30483911/248-garneau-street-ottawa-3402-vanier
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Contact us for more information
610 Bronson Avenue
Ottawa, Ontario K1S 4E6
(613) 236-5959
(613) 236-1515
www.hallmarkottawa.com/
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November 05 2026 06:32:50
Ottawa Real Estate Board
RE/MAX Hallmark Realty Group