391 GREENWOOD AVENUE, Ottawa
Prime Westboro Income Opportunity! An exceptional chance to own a fully updated, all-brick legal duplex with a fully permitted basement secondary dwelling unit, offering three self-contained two-bedroom units in one of Ottawa's most sought-after urban neighbourhoods. Set on a generous 49.02' x 66.0' lot, this income property combines strong cash flow, quality upgrades, and long-term upside. Each unit is separately hydro-metered and equipped with air conditioning, while two driveways provide valuable on-site parking for all the tenants. The property generates approximately $80,400 in annual gross rental income. Based on seller-provided operating expenses, the estimated Net Operating Income is approximately $60,775.63 per year, representing an estimated 5.07% cap rate. With refreshed interiors, solid in-place income, and a premium Westboro location close to shops, transit, parks, schools, beach and everyday amenities, this is a compelling opportunity for investors seeking immediate income with future growth potential. The property may also offer additional intensification possibilities, including the potential for another secondary dwelling unit or coach house/garden-suite-style development, subject to applicable zoning, planning, building code requirements, and municipal approvals. Buyer to independently verify all permitted uses and development potential. ps: The listing photos are of Apartment #1 only and were taken before the tenants moved in. Apartment #2 offers a similar layout and finish. The basement unit is approximately 200 sq. ft. smaller than the other units and includes two bedrooms, a full bathroom, kitchenette, living room, furnace room, mechanical room, and laundry room. (id:25961)
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Details
- Equipment: Water Heater
- Features: Carpet Free, Sump Pump
- Parking Spaces: 6
- Rental Equipment: Water Heater
- Transaction: For sale
Building
- Amenities: Separate Electricity Meters
- Appliances: Water Heater
- BasementType: N/A
- Basement Features: Separate entrance
- Bedrooms Main Level: 6
- Cooling: Central air conditioning
- Exterior Finish: Brick
- Fireplace Present: False
- Foundation: Block
- Bathrooms (Total): 3
- Heating: Forced air
- Heating Fuel: Natural gas
- Size Interior: 1500 - 2000 sqft
- Stories Total: 2
- Type: Triplex
- Utility Water: Municipal water
Land
- Sewer: Sanitary sewer
- Size Depth: 66 ft
- Size Frontage: 49 ft
- Size Irregular: 49 x 66 FT
This property for sale is located at 391 GREENWOOD AVENUE in Ottawa. It was last modified on September 24th 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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