248 GARNEAU STREET, Ottawa
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:25961)
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Details
- Amenities Nearby: Public Transit, Park
- Features: Sump Pump
- Parking Spaces: 4
- Transaction: For sale
- Zoning Description: Res
Building
- Appliances: Water Heater, Dishwasher, Dryer, Stove, Two Washers, Refrigerator
- BasementType: Full (Finished)
- Basement Development: Finished
- Bedrooms Main Level: 4
- Cooling: Central air conditioning
- Exterior Finish: Stucco
- Fireplace Present: False
- Foundation: Concrete, Block
- Bathrooms (Total): 3
- Heating: Baseboard heaters, Forced air
- Heating Fuel: Natural gas
- Size Interior: 1100 - 1500 sqft
- Stories Total: 2
- Type: Triplex
- Utility Water: Municipal water
Land
- Amenities: Public Transit, Park
- Sewer: Sanitary sewer
- Size Depth: 100 ft
- Size Frontage: 40 ft
- Size Irregular: 40 x 100 FT ; 0
This property for sale is located at 248 GARNEAU STREET in Ottawa. It was last modified on November 5th 2026. Let us connect you with one of our real estate agents to schedule a viewing or to discover other Ottawa homes for sale.
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