54 Centennial Boulevard
FOR SALE
$1,900,000
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8 + 2
BEDROOMS6
BATHROOMS4 + 2
KITCHENS20 + 8
ROOMSX13022406
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Property Description
Turnkey 6-unit investment opportunity in a strong rental location with significant upside potential. This well-maintained building features 2 two-bed, 2 two-bed + den, and 2 one-bed units with a current gross income of $102,316.92 and NOI of $73,429.92. Recent capital improvements include a full roofing system replacement in 2025, extensive masonry repairs in 2025 including brick replacement, repointing and structural crack remediation, and front entrance landscaping and concrete work completed in 2024. The pride of ownership is evident throughout with meticulously maintained exterior, common areas and landscaping. Unit mix offers strong rental growth potential, with the most recent lease (Unit 3) achieving $2,000/month, highlighting upside on remaining two-bedroom units. The property includes 6 parking spaces and a garage currently used by the owner. A 2010 survey indicates potential for future development, with a large frontage and irregular lot allowing for reconfiguration of parking to unlock additional density. Additional value-add potential exists in the basement with storage and hydro meter rooms adjacent to Unit 1, offering the possibility of consolidation to enhance unit size or functionality. A rare opportunity to acquire a well-cared-for asset with both immediate income and long-term development potential.
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Property Features
Carpet Free, Separate Hydro Meter, Available, Reserved/Assigned
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Property Details
Address
54 Centennial Boulevard
Community
Postal Code
K1S 0M9
Property Type
Multiplex, Multiplex
Taxes
$15,678 (2025
Basement
Apartment
Heat Type
Radiant
Heat Source
Gas
Water
Municipal
Parking Spaces
6
Garage Type
Detached
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Listing contracted with Sleepwell Realty Group Ltd
A rare multi unit gem in one of Ottawa's Most Coveted Neighborhoods. Welcome to a premier, fully tenanted investment opportunity in Old Ottawa South. Perfectly positioned on an expansive 30' x 161' lot, this property offers the ultimate combination of immediate cash flow and future development potential. The property boasts a major 3,000 sq. ft. addition completed in 2017, bringing the total to four self-contained, high-yielding apartments (one 3 bed, two 2 beds, and one 1 bed). Every unit benefits from the convenience of private, in unit laundry, a massive draw for top tier tenants. The original front unit has been tastefully modernized with gleaming hardwood floors, granite countertops, contemporary cabinetry, and a renovated bath. Mechanically, this building is a dream for hands off investors. It features updated roofing (2017), a 2017 sump pump, and independent climate controls. Utilities are efficiently split across 3 hydro meters, 3 gas meters, and 1 water meter. Currently generating a strong $11,349.31 in gross monthly rental income with a 6.3% cap rate, this property is rock-solid. Best of all? The City of Ottawa has indicated potential for a 5 plex conversion, giving you a clear path to instantly boost your equity and revenue whenever you're ready. Building is legal as it stands. Current total gross monthly rental income is $11,349.31. Annual gross income: $131,055.00. Annual expenses: $24,288.30. Annual net income: $106,766.70. Motivated vendor. PROPERTY SOLD AS IS WHERE IS.
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