For Sale: 391 Greenwood Avenue, Ottawa, ON - REW
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$1,199,999
6 bd • 3 ba • 1500 - 1999 sf • Multifamily
391 Greenwood Avenue
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$1,199,999
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391 Greenwood AvenueOttawa, ON, K2A 0X4

Laurentian
  • 6 Bed
  • 3 Bath
  • 1500 - 1999 Sqft
  • Multifamily

About this home

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:63626)
Listed by: Huma Moeed Israr, Salesperson, INNOVATION REALTY LTD.

Home facts and features

Price details
List Price
$1,199,999
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Gross Taxes for 2025
$7,620
Home facts
Bedrooms
6
Full Bathrooms
3
Parking Spaces
6
Parking Details
No Garage
Property Type
Multifamily
Lot Size
49 ft x 66 ft (3234 ft²)
Depth
66 feet
Frontage
49.0 feet
Exterior Finish
Brick
Heating Type
Forced air, Natural gas
Cooling
Central air conditioning
Basement Details
Separate entrance,
Features
Carpet Free, Separate Electricity Meters, Sump Pump
Appliances
Water Heater
Community
Agent details
Primary Agent
Huma Moeed Israr
Primary Broker
INNOVATION REALTY LTD.
Listing details
Days on REW
5 Days
Property Views
42
MLS® Number
X13812090
Source
Canadian Real Estate Association
Board
Ottawa Real Estate Board
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Purchase Price
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25 Years
Interest Rate
3.99%

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Property Insights

Notre Dame School
  • Catholic
  • 7 - 12
Broadview Public School
  • Public
  • JK - 8
Nepean High School
  • Public
  • 9 - 12
Churchill Alternative School
  • Public
  • JK - 6
St Elizabeth Elementary School
  • Catholic
  • JK - 6
Hilson Avenue Public School
  • Public
  • JK - 6
W.E. Gowling Public School
  • Public
  • JK - 6
Elmdale Public School
  • Public
  • JK - 6
Our Lady of Fatima Elementary School
  • Catholic
  • JK - 6
Woodroffe Avenue Public School
  • Public
  • JK - 6
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Salesperson
Huma Moeed Israr
Phone:
(613) 413-6266
Office:
613-755-2278
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