559 Parkdale Avenue

Nestled in the heart of Ottawa, at 559 Parkdale Avenue, this impressive Multi-Family Home for sale in Ottawa is a remarkable opportunity for both investors and owner-occupants alike. This well-maintained, three-storey multiplex, constructed over a century ago in 1916, is situated in the highly sought-after Civic Hospital community, surrounded by mature trees and just a stone's throw from the Experimental Farm, Civic and Royal Ottawa Hospitals, and the University of Ottawa Heart Institute. With easy access to Dow's Lake, the LRT, schools, and key employment centres, this property offers an enviable lifestyle in a vibrant neighbourhood.

As you approach 559 Parkdale Avenue, Ottawa, you will be greeted by its charming brick exterior, which exudes character and warmth. This Multi-Family Home for sale in Ottawa boasts a total of 18 rooms, including five spacious bedrooms and three well-appointed bathrooms. Each unit has been fully and professionally renovated from top to bottom, ensuring that every corner of this property has been thoughtfully designed for comfort and functionality. The building features three kitchens, equipped with quality appliances, including dishwashers and granite countertops in the largest unit, making meal preparation a delight.

This exceptional triplex offers an ideal living arrangement for an owner-occupant investor. You can reside in one of the units while the other tenants help offset ownership costs. The layout includes a convenient one-bedroom unit on the main level, alongside two generous two-bedroom units on the second and third floors. Additionally, there is a bonus rentable main-floor office or den, complete with its own separate access and a two-piece bathroom, subject to zoning confirmation. This unique feature allows for potential extra income, enhancing the overall appeal of this Multi-Family Home for sale in Ottawa.

The property generates a yearly gross income of approximately £88,800, with a net operating income (NOI) of around £64,000. There is also the potential for an additional £12,000 from the front office/den and the fourth parking space, which is currently unused. The financial prospects of this property are further supported by excellent utility separation, featuring five hydro meters, four gas meters, and three HVAC units, ensuring that tenants are responsible for their own utility costs. The basement laundry area, complete with separate hot water connections, adds to the convenience for residents.

Inside 559 Parkdale Avenue, Ottawa, you will find updated kitchens and bathrooms, hardwood floors, and a skylight that fills the space with natural light. The two gas fireplaces create a warm and inviting atmosphere, perfect for those chilly evenings. The property also boasts four maintenance-free fiberglass and aluminium decks with glass railings, including one around the front veranda, providing ample outdoor space for relaxation and enjoyment.

While this Multi-Family Home for sale in Ottawa does not come with a pool or garage, it does offer four paved parking spaces, making it convenient for tenants and guests alike. The beautifully maintained, sprinkler-irrigated lawn and flower beds add to the curb appeal, making this property truly stand out.

In summary, 559 Parkdale Avenue, Ottawa, is a rare find in the central Ottawa area, combining solid income potential, thoughtful renovations, and lifestyle flexibility. This Multi-Family Home for sale in Ottawa is a fantastic investment opportunity, whether you are looking to live in one unit while renting out the others or seeking a fully managed income property. With quick access to the Queensway and proximity to major employment nodes, the demand for rental units in this area remains strong, making this property a wise choice for any discerning buyer. Don’t miss your chance to own this exceptional triplex in a prime location!

Civic Hospital, located in the heart of Ottawa, is a vibrant and well-connected neighbourhood known for its blend of residential charm and urban convenience. Nestled around the renowned Ottawa Hospital, this area boasts tree-lined streets, a mix of historic and contemporary homes, and easy access to parks and recreational facilities. Residents enjoy proximity to essential amenities, including shops, cafes, and schools, all within a short stroll or bike ride. The community is well-served by public transport, making it easy to explore the wider city. With a strong sense of community spirit and a focus on health and well-being, Civic Hospital offers a welcoming environment for families, professionals, and anyone seeking a balanced lifestyle in Ottawa.

Schools in the Neighbourhood

This property is conveniently located near several reputable schools, making it an ideal choice for families. Within a short distance of just 0.5 km, you will find Connaught Public School, an English-language elementary school catering to grades JK to 6, which boasts a solid school rating of 7. Additionally, the Summit Alternative School, also 0.5 km away, offers grades 7 to 8, although it currently has a lower rating. Elmdale Public School, located 0.8 km from the property, provides French-language education for JK to 6 and has an impressive rating of 8.6. For secondary education, Glebe Collegiate Institute, situated 2.3 km away, serves grades 9 to 12 and holds a commendable rating of 7.7. St. Anthony School, a Catholic institution 1.8 km away, offers education from JK to 6 with a rating of 7.5. Lastly, Notre Dame High School, located 3.1 km from the property, serves grades 7 to 12 and has a rating of 5.3. This diverse range of educational options ensures that families can find suitable schooling for children of all ages, enhancing the property's appeal.