Prime Westboro Income Opportunity! A rare chance to acquire a well-maintained, fully updated, all-brick legal duplex with a permitted basement secondary dwelling unit, ideally situated on a 49.02' x 66.0' lot in one of Ottawa's most desirable urban neighbourhoods.The property features two spacious two-bedroom units plus one one-bedroom lower unit, with the basement secondary dwelling unit added in 2024. Two driveways provide ample parking, each unit is separately hydro-metered, and all units are equipped with air conditioning.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, strong in-place income, and a premium Westboro location, this is an attractive long-term investment opportunity for buyers seeking both immediate cash flow and future upside.The property may also offer additional intensification potential, including the possibility of 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.
Address
391 Greenwood Avenue
List Price
$1,199,999
MLS® Status
New
Property Type
Residential Freehold
Type of Dwelling
Triplex
Style of Home
2-Storey
Transaction Type
Sale
Area
Carlingwood - Westboro and Area
Sub-Area
5105 - Laurentianview
Region
Ottawa
Bedrooms
5
Bedrooms (Total)
5
Rooms Above Grade
15
Bathrooms
3
Floor Area
1500-2000 Sq. Ft.
Lot Size Source
MPAC
Lot Depth
66
Lot Size Units
Feet
Lot Width
49
Parcel Number
040110054
Occupant Type
Tenant
Cross Street
Roosevelt Avenue and Melbourne Avenue
MLS® Number
X13812090
Listing Brokerage
INNOVATION REALTY LTD.
Basement Area
Separate Entrance
Postal Code
K2A 0X4
Posession Details
Flexible
Parking Places (Total)
6
Parking Spaces
8
Tax Amount
$7,620.00
Tax Year
2025
Interior Features
Carpet Free, Separate Hydro Meter, Sump Pump, Water Heater
Central Vacuum
No
Family Room
Yes
Elevator
No
Ensuite Laundry
No
Special Designation
Unknown
Standard Status
Active
Board Or Association
Ottawa Real Estate Board
Heat Source
Gas
Heat Type
Forced Air
Cooling Features
Central Air
Construction Materials
Brick
Direction Faces
South
Fireplace
No
Foundation Details
Concrete Block
Garage
No
Garage Type
None
Kitchens Total
3
Kitchens Above Grade
3
Pool Features
None
Roof
Asphalt Shingle
Tax Legal Description
PT LT 118, PL 257 , AS IN N570075 ; OTTAWA/NEPEAN
Waterfront
No
Sewer
Sewer
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