Turnkey 4-unit income property in the heart of the Glebe generating $96,724 in gross annual income with a strong NOI of $73,705, offering an exceptional opportunity for investors seeking stable cash flow and long-term upside in one of Ottawa's most sought-after rental markets. This well-maintained building features three legal units plus a fourth non-conforming basement suite, which includes a proper egress window providing a secondary means of escape. Current rents are highly attractive with Unit 1 (main floor 2 bed + den) at $2,700/month, Unit 2 (second level 2 bed + den) at $2,500/month, Unit 3 (third level 1 bed) at $1,891/month, and Unit 4 (basement 1 bed) at $969/month. Each of the upper three units enjoys private outdoor space, including an oversized patio for the main floor unit, significantly enhancing tenant appeal and retention. The property also offers shared laundry facilities and rare on-site parking for four vehicles-a premium feature in the Glebe-including a detached garage with two spaces and two additional surface spots. Beyond the numbers, the building stands out with its character, charm, and architectural presence, blending classic design with functional layouts that consistently attract high-quality tenants. Located in a prime, walkable neighbourhood with strong rental demand, this is an asset where vacancy is virtually nonexistent and tenant quality remains consistently high.
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Toronto · Ontario · Estimates only. Not financial or investment advice. Consult a licensed mortgage broker and accountant before making investment decisions.
FAQ
What is the total square footage of the X12937508 - 84 Fourth Avenue, Glebe - Ottawa East and Area, ON K1S 2L2?
The total square footage of this property is 2500-3000 SqFt.
What schools near to X12937508 - 84 Fourth Avenue, Glebe - Ottawa East and Area, ON K1S 2L2?
The nearest schools are Corpus Christi Catholic Elementary School for elementary and Glebe Collegiate Institute for secondary.