Skip to content

248 GARNEAU STREET, Ottawa

4 BEDS · 3 BATHS · 1100 - 1500 sqft

$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.

General Info


MLS Listing ID: X14153340 Bedrooms: 4 Bathrooms: 3 Year Built: 0
Listing Type: Multi-family Half Baths: N/A Fireplace Fuel: N/A Maintenance Fee: N/A
Foundation: Concrete, Block Roof: N/A Title To Land: N/A Parking Space Total: 4
Parking: N/A Heating: Baseboard heaters, Forced air Size: 1100 - 1500 sqft Air Conditioning : Central air conditioning
Home Style: N/A Finished Floor Area: N/A Fireplaces: N/A Basement: Full (Finished)
Water Supply: Municipal water Road Type: N/A Pool Type: N/A

Amenities/Features


  • Sump Pump

Mortgage Calculator


Disclaimer: NOTE: ©1998-2019 The Canadian Real Estate Association. All rights reserved. REALTOR®, REALTORS®, and all related graphics are trademarks of REALTOR® Canada Inc. a corporation owned by The Canadian Real Estate Association and the National Association of REALTORS®.

CONTACT ME

CONTACT FORM