101 STRATHCONA AVENUE

4402 - Glebe Ottawa K1S 1X5

Outstanding opportunity in the Glebe, halfway between the Rideau Canal and Bank Streets shops, cafés, and transit. This legal 4-unit solid BRICK building combines classic charm with smart, income-generating potential in one of Ottawa's most desirable neighbourhoods. Featuring two 2-bedroom units and two 3-bedroom units (with dishwashers!), each suite is bright, spacious, and well-maintained, ideal for professional tenants. The property offers multiple balconies, a two-car garage, and a coin-operated laundry for added convenience and income. Recent system updates ensure efficiency and peace of mind, while original character elements -- very high ceilings, transom windows, hardwood floors, wonderful original trim, updated antique light fixtures, and large windows -- enhance the property's timeless appeal. With a projected cap rate above 5.1%, this building represents a rare combination of stability, location, and upside potential. Investors will appreciate the solid rental history and strong tenant demand, while those seeking an owner-occupied option will find the generous main-floor or upper units ideal for personal use with income support from the remaining apartments.The property sits mid-block on Strathcona Avenue, just steps to the Canal pathways, Lansdowne Park, parks, schools, and all the amenities of Bank and Elgin streets. A truly turnkey investment or flexible live-in opportunity offering the perfect balance of lifestyle and long-term value in the heart of the Glebe. Updated systems. Long term owner. Close to everything. Two outdoor plus two garage parking spaces. Private drive. Amazing opportunity! Gross Income: $111,900/year. Expenses 2024: $24,887 (id:2493)