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












































