$725,000 Sale

Listed 2 hours ago

248 GARNEAU STREET

MLS® x14153340 Triplex

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Beds · 4

Baths · 3.0

Parking · 4

Sqft · 1100 - 1500

Est. mortgage

$2,750/mo

Key Facts

Key facts for 248 GARNEAU STREET

Property Type

Apartment

Parking

Garage: No, 4 parking

MLS #

X14153340

Size

1100 - 1500 sqft

Basement

Finished, Full (Finished)

Listed on

Lot size

Tax

Days on Market

Year Built

Maintenance Fee

Description

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 R...iver 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:10452)

Full Property Details

Interior

Bedrooms

Washrooms

3.0

Square Footage

1100 - 1500 sqft

Basement

Finished, Full (Finished)

Heating Source

Natural gas

Heating Type

Baseboard heaters, Forced air

Air Conditioning

Central air conditioning

Full Bathrooms

Half Bathrooms

Bedrooms

Washrooms

3.0

Square Footage

1100 - 1500 sqft

Basement

Finished, Full (Finished)

Heating Source

Natural gas

Heating Type

Baseboard heaters, Forced air

Air Conditioning

Central air conditioning

Full Bathrooms

Half Bathrooms

Exterior

Acreage

40 x 100 FT ; 0

Parking Spaces

Garage Spaces Y/N

Zoning Description

Res

Land Amenities

Public Transit, Park

Acreage

40 x 100 FT ; 0

Parking Spaces

Garage Spaces Y/N

Zoning Description

Res

Land Amenities

Public Transit, Park

Building Description

Home Type

Apartment

Subtype

Triplex

Exterior

Stucco

Sewers

Sanitary sewer

Water Supply

Municipal water

Home Type

Apartment

Subtype

Triplex

Exterior

Stucco

Sewers

Sanitary sewer

Water Supply

Municipal water

Community

Vanier

Area Code

Ottawa

Community

Vanier

Area Code

Ottawa

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Diego Delgado

Email: [email protected] Cell: 613-363-7596