143 Granville Street

Introducing a remarkable opportunity: a Multi-Family Home for sale in Ottawa , located at 143 Granville Street, Ottawa. This impressive multiplex, styled as a 2 1/2 storey building, boasts a solid brick exterior and is situated in the desirable community of 3402 - Vanier. With four spacious bedrooms, one den, and three bathrooms, this property is ideal for both investors and potential owner-occupants alike.

As you explore this Multi-Family Home for sale in Ottawa, you will appreciate the thoughtful layout that includes two kitchens, making it perfect for multi-generational living or maximising rental income. The total of eight rooms, complemented by three additional rooms, provides ample space for comfortable living. The building is unfurnished, allowing new owners to tailor the interior to their personal taste.

At 143 Granville Street, Ottawa, the property is equipped with wall unit air conditioning in units two and three, ensuring a pleasant atmosphere during the warmer months. While there is no family room or central vacuum system, the building's amenities more than compensate. The heating is provided by a water system, which ensures even warmth throughout the property, while the municipal water and sewer services offer peace of mind.

The outdoor space is equally impressive, with a large lot measuring 50 X 100 feet, perfect for future redevelopment or additions. The wide parking area at the front and side, along with a detached garage that accommodates a small car, provides convenient access for both residents and tenants. With a private double driveway and parking space for up to four vehicles, this Multi-Family Home for sale in Ottawa is a practical choice for families and investors alike.

Backing onto the serene Notre Dame Cemetery, residents can enjoy a peaceful environment without any looming structures behind them. The location near the top of Granville Street offers a quieter and more upscale atmosphere, making it an attractive option for tenants seeking a tranquil living experience.

This well-maintained building has excellent tenants in place, with one apartment currently available for an owner-occupant or for you to find your own tenant. Over the years, numerous upgrades have been made, including waterproofing, new windows, a modern boiler, and a new roof, ensuring that the building remains in excellent condition. Tenants are responsible for their own hydro and tank rentals, providing an additional layer of convenience.

The common laundry room is coin-operated, adding to the practicality of this Multi-Family Home for sale in Ottawa. The spacious and well-divided units are bright and inviting, making them highly desirable for prospective tenants. The projected income for 2025 is an impressive $70,224, with expenses estimated at $14,020 for 2024, plus variable repairs and maintenance. With a net operating income (NOI) that carries approximately $810,000 in financing at a 5% rate, this property presents a lucrative investment opportunity.

Recent inspections are available for review, ensuring transparency and confidence in your investment. While there are restricted showing days and times to accommodate tenants, unit two and the common spaces are always accessible for viewing.

In summary, this Multi-Family Home for sale in Ottawa, located at 143 Granville Street, Ottawa, is a fantastic option in a prime location. With its spacious layout, numerous upgrades, and excellent income potential, it is well worth a visit. Don’t miss out on this exceptional opportunity; come take a look today!

Vanier, located just east of downtown Ottawa, is a vibrant and diverse neighbourhood known for its rich cultural tapestry and strong sense of community. Characterised by its mix of residential homes, local shops, and parks, Vanier offers a unique blend of urban convenience and suburban charm. The area is well-served by public transport, making it easy to access the city centre and other attractions. Residents can enjoy a variety of amenities, including cafes, restaurants, and recreational facilities, all set against a backdrop of tree-lined streets and community spaces. With its welcoming atmosphere and close-knit feel, Vanier is an appealing choice for those seeking a lively yet relaxed environment to call home.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an excellent choice for families. The closest schools include Manor Park Public School, just 0.8 km away, offering both English and French immersion for grades JK to 6, with a respectable rating of 6.1. Queen Elizabeth Public School, located 1.2 km away, serves grades JK to 8 but has a lower rating of 3.8. For secondary education, Lisgar Collegiate Institute, 3.5 km from the property, boasts a high rating of 8.8, catering to grades 9 to 12. Additionally, Assumption School, a Catholic institution 1.0 km away, provides education for grades JK to 6 with a rating of 2.6. Immaculata High School, also Catholic, is 4.1 km away and serves grades 7 to 12, holding a rating of 7.4. While Henry Munro Middle School is a bit further at 4.9 km, it offers French language education for grades 6 to 8, though it currently has a rating of 0. Overall, this area is well-equipped with educational options for children of all ages, ensuring a supportive environment for their academic growth.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small, yet diverse community with a population of 503 residents. The average household size is 2.1, indicating a mix of single-person and small family households. The average age of residents is 43.3 years, suggesting a mature population. Economically, the area boasts a respectable average household income of $99,000, although 10.4% of the population falls within the low-income bracket. The real estate market reflects this economic landscape, with an average property price of $610,000. A significant portion of the community is single (50.57%), and nearly 30% of households include children. The area is also home to a notable immigrant population, comprising 13.27% of residents. Renters make up 43.4% of the housing situation, with 24.53% residing in condominiums. Education is highly valued, as evidenced by 73.47% of residents holding a college or university degree. However, a substantial 41.84% of the population is not in the labor force, indicating potential challenges in employment opportunities. Overall, this community presents a blend of stability and diversity, appealing to various demographics.