For Sale: 248 Garneau Street, Ottawa, ON - REW
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$725,000
4 bd • 3 ba • 1100 - 1499 sf • Multifamily
248 Garneau Street
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$725,000
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248 Garneau StreetOttawa, ON, K1L 7T8

Vanier North
  • 4 Bed
  • 3 Bath
  • 1100 - 1499 Sqft
  • Multifamily

About this home

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:63626)
Listed by: Shamir Daya, Salesperson, RE/MAX HALLMARK REALTY GROUP

Home facts and features

Price details
List Price
$725,000
Get Pre-Approved
Gross Taxes for 2026
$6,856
Home facts
Bedrooms
4
Full Bathrooms
3
Parking Spaces
4
Parking Details
No Garage
Property Type
Multifamily
Depth
100 feet
Frontage
40.0 feet
Exterior Finish
Stucco
Heating Type
Baseboard heaters, Forced air, Natural gas
Cooling
Central air conditioning
Basement Details
Finished, Full
Features
Sump Pump
Appliances
Dishwasher, Dryer, Refrigerator, Stove, Two Washers, Water Heater
Community
Agent details
Primary Agent
Shamir Daya
Primary Broker
RE/MAX HALLMARK REALTY GROUP
Listing details
Days on REW
1 Day
MLS® Number
X14153340
Source
Canadian Real Estate Association
Board
Ottawa Real Estate Board
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Property Insights

ÉEP Trille des Bois
  • Public
  • JK - 8
St Brigid Elementary School
  • Catholic
  • JK - 6
Répit-Transit
  • Public
  • JK - 12
Assumption Catholic Elementary School
  • Catholic
  • JK - 6
Manor Park Public School
  • Public
  • JK - 6
ÉEP Le Trillium
  • Public
  • JK - 6
É Élém C Horizon-Jeunesse
  • Catholic
  • JK - 6
ÉSP De La Salle
  • Public
  • 9 - 12
ÉEP De la Salle
  • Public
  • 7 - 8
É Élém C Sainte-Anne
  • Catholic
  • JK - 8
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Call Agent
Salesperson
Shamir Daya
Phone:
(613) 864-4212
Office:
613-236-5959
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