Turnkey 4-unit income property in the heart of the Glebe generating $96,724 in gross annual income with a strong NOI of $73,705, offering an exceptional opportunity for investors seeking stable cash flow and long-term upside in one of Ottawa's most sought-after rental markets. This well-maintained building features three legal units plus a fourth non-conforming basement suite, which includes a proper egress window providing a secondary means of escape. Current rents are highly attractive with Unit 1 (main floor 2 bed + den) at $2,700/month, Unit 2 (second level 2 bed + den) at $2,500/month, Unit 3 (third level 1 bed) at $1,891/month, and Unit 4 (basement 1 bed) at $969/month. Each of the upper three units enjoys private outdoor space, including an oversized patio for the main floor unit, significantly enhancing tenant appeal and retention. The property also offers shared laundry facilities and rare on-site parking for four vehicles-a premium feature in the Glebe-including a detached garage with two spaces and two additional surface spots. Beyond the numbers, the building stands out with its character, charm, and architectural presence, blending classic design with functional layouts that consistently attract high-quality tenants. Located in a prime, walkable neighbourhood with strong rental demand, this is an asset where vacancy is virtually nonexistent and tenant quality remains consistently high. (id:56483)
| MLS® Number | X12937508 |
| Property Type | Multi-family |
| Community Name | 4402 - Glebe |
| Features | Carpet Free |
| Parking Space Total | 4 |
| Bathroom Total | 4 |
| Bedrooms Above Ground | 5 |
| Bedrooms Below Ground | 1 |
| Bedrooms Total | 6 |
| Appliances | Dishwasher, Dryer, Stove, Two Washers, Refrigerator |
| Basement Type | Full |
| Cooling Type | None |
| Exterior Finish | Brick |
| Foundation Type | Stone |
| Heating Fuel | Natural Gas |
| Heating Type | Radiant Heat, Not Known |
| Stories Total | 3 |
| Size Interior | 2500 - 3000 Sqft |
| Type | Triplex |
| Utility Water | Municipal Water |
| Detached Garage | |
| Garage | |
| Covered |
| Acreage | No |
| Sewer | Sanitary Sewer |
| Size Depth | 102 Ft ,10 In |
| Size Frontage | 49 Ft ,10 In |
| Size Irregular | 49.9 X 102.9 Ft |
| Size Total Text | 49.9 X 102.9 Ft |
https://www.realtor.ca/real-estate/29535442/84-fourth-avenue-ottawa-4402-glebe
Contact us for more information
Adam Pearce
Salesperson
(613) 521-2000
sleepwellrealty.com/
Angie Pearce
Salesperson
(613) 521-2000
sleepwellrealty.com/
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