52 Ontario Street

Introducing a remarkable opportunity with this Multi-Family Home for sale in Ottawa , located at 52 Ontario Street, Ottawa. This modern, purpose-built multiplex, constructed in 2018, is a turn-key property that promises to be a valuable addition to any investment portfolio. Spanning over 5,000 square feet, this large triplex features an additional unit in the basement, benefitting from R4 zoning, which enhances its rental potential.

The property is situated in the vibrant community of Overbrook, specifically at 52 Ontario Street, Ottawa, making it an ideal location for tenants seeking convenience and accessibility. The building's exterior is a blend of brick and aluminium siding, providing a contemporary yet durable façade. The property boasts a total of 12 bedrooms and 8 bathrooms across its four units, ensuring ample space for families or groups of tenants. Each unit is designed with comfort in mind, featuring large kitchens and generously sized rooms, all finished with modern vinyl flooring and ceramic tiles throughout.

As you explore this Multi-Family Home for sale in Ottawa, you will find that each of the three upper units consists of 3 bedrooms and 1.5 bathrooms, while the lower-level unit offers 2 bedrooms and 1 bathroom. This thoughtful layout caters to a variety of living arrangements, making it easy to attract tenants. The property has been designed for ease of maintenance, ensuring that it remains a low-maintenance investment.

At 52 Ontario Street, Ottawa, the amenities are plentiful. The building is equipped with central air conditioning, ensuring a comfortable living environment for all residents. While there is no family room or central vacuum system, the property compensates with its generous living spaces and the convenience of in-unit stackable washer and dryers in each unit. The absence of a pool and fireplace allows for a focus on the essentials, making this property both practical and functional.

Parking is never an issue with this Multi-Family Home for sale in Ottawa, as it includes two designated parking spaces. Although there is no garage space or driveway, the property's location and layout make it easy for tenants to find additional parking nearby. The building is connected to municipal water and sewer services, providing a reliable infrastructure for its residents.

In terms of financial potential, this property has demonstrated a robust performance with an annual gross income exceeding $120,000. The building has maintained a consistent occupancy rate, with never a vacancy reported, which is a testament to its desirability and the quality of living it offers. The 5% cap rate further highlights the investment potential of this property, making it an attractive option for both seasoned investors and those new to the market.

The location of 52 Ontario Street, Ottawa, is another significant advantage. Nestled in the trendy Overbrook community, residents will enjoy easy access to a variety of amenities, including shops, restaurants, and recreational facilities. The proximity to major transport routes, such as the 417, ensures that commuting to the downtown core or other parts of Ottawa is convenient. Additionally, the nearby Rideau River and the new pedestrian bridge to the University of Ottawa provide further appeal for potential tenants.

In summary, this Multi-Family Home for sale in Ottawa at 52 Ontario Street, Ottawa, is a rare find in today’s market. With its spacious layout, modern finishes, and prime location, it checks all the boxes for a successful investment. Whether you are looking to expand your portfolio or enter the real estate market, this property offers the perfect blend of comfort, convenience, and income potential. Don’t miss out on the chance to secure this exceptional property in a thriving community.

Overbrook is a charming neighbourhood nestled in the city of Ottawa, characterised by its diverse mix of residential areas and green spaces. The community boasts a rich tapestry of cultural influences, reflected in its array of local shops, eateries, and community centres that foster a welcoming atmosphere. With convenient access to public transport and major roadways, residents enjoy a seamless connection to downtown Ottawa and beyond. The presence of parks and recreational facilities makes it an ideal spot for families and outdoor enthusiasts alike, while the close-knit feel of the area offers a sense of belonging amidst the vibrant urban landscape. Whether you’re drawn to its historical charm or the promise of community engagement, Overbrook presents an inviting option for those considering a new home in the capital.

Schools in the Neighbourhood

This property is ideally situated near several reputable schools, making it an excellent choice for families. The closest educational institution is Viscount Alexander Public School, just 1.1 km away, offering English-language instruction for grades JK to 6, with a solid rating of 3.9. Another nearby option is Assumption School, a Catholic elementary school located 0.9 km from the property, catering to grades JK to 6, though it has a lower rating of 2.6. For older students, Lisgar Collegiate Institute, a secondary school with an impressive rating of 8.8, is located 1.8 km away, providing education for grades 9 to 12. Additionally, Queen Elizabeth Public School and Elgin Street Public School, both within 2.1 km and 2.3 km respectively, offer further options for elementary education, with ratings of 3.8 and 7.7. Vincent Massey Public School, also nearby, offers French-language instruction for grades JK to 8. Lastly, Immaculata High School, a Catholic secondary school, is located 2.2 km away and serves grades 7 to 12 with a rating of 7.4. This diverse selection of schools ensures quality education for children of all ages.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small population of 550 residents, with an average household size of 1.8 individuals. The community is characterized by a relatively mature demographic, with an average age of 44.1 years. The average household income stands at $82,000, although 17.2% of the population is classified as low-income. The real estate market reflects a median home price of $556,000, with 51.52% of residents renting their homes, and a significant portion of the housing stock comprising condominiums (39.39%). The area has a notable single population, accounting for 59%, while households with children represent 22.22%. Additionally, 30.83% of the residents are immigrants, contributing to the community's diversity. Educational attainment is high, with 66.36% of the population holding a college or university degree. However, a significant portion of the population, 42.73%, is not participating in the labor force. Overall, this demographic snapshot illustrates a well-educated, diverse community with a mix of homeowners and renters, alongside a considerable number of single individuals and families with children.