FEATURED LISTINGS

248 GARNEAU STREET
3402 - Vanier Ottawa K1L 7T8

$725,000
Multi-family beds: 4 baths: 3.0

Main Photo: 248 GARNEAU STREET in Ottawa: Multi-family for sale : MLS®# X14153340
Photo 1: 248 GARNEAU STREET in Ottawa: Multi-family for sale : MLS®# X14153340
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Status:
Active
Prop. Type:
Multi-family
MLS® Num:
X14153340
Bedrooms:
4
Bathrooms:
3
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:2493)
Property Type:
Multi-family
Property Attached:
Yes
Living Area (Min):
1,100 sq. ft.
Living Area (Max):
1,500 sq. ft.
Zoning:
Res
Taxes:
$6,856.41 / -
Community:
3402 - Vanier
Exterior Features:
Stucco
Structure Type:
Triplex
Utilities:
Electricity
Appliances Included:
Refrigerator, Dishwasher, Stove, Dryer, Two Washers, Water Heater
Bedrooms:
4
Bedrooms Above Grade:
4
Bathrooms:
3.0
Cooling:
Central air conditioning
Fireplace:
No
Foundation:
Block, Concrete
Heating:
Baseboard heaters, Forced air, Natural gas
# Storeys:
2.0
Water:
Municipal water
Sewer:
Sanitary sewer
Basement:
Finished, Full
Lot Frontage:
40'
Lot Details:
40 x 100 FT ; 0
Lot Features:
Sump Pump
Parking:
Other, No Garage
Total Parking Spaces:
4
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Listed by RE/MAX HALLMARK REALTY GROUP
Data was last updated November 6, 2026 at 05:15 PM (UTC)
Area Statistics
Listings on market:
25
Avg list price:
$849,900
Min list price:
$470,000
Max list price:
$2,200,000
Avg days on market:
28
Min days on market:
1
Max days on market:
511
Avg price per sq.ft.:
$421.23
These statistics are generated based on the current listing's property type and located in 3402 - Vanier. Average values are derived using median calculations. This data is not produced by the MLS® system.
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