391 Greenwood Avenue, Carlingwood - Westboro and Area, ON K2A 0X4

About this residence

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.

Property details

Property type

Triplex

Total rooms

15

Garage

None

Parking spaces

8

Annual taxes

$7,620 (2025)

Possession

Flexible

Directions

Between Roosevelt and Melbourne, 1 block south of Dovercourt. Alternatively, Churchill west on Greenwood OR Carling north on Cole to east on Greenwood

Location