Property Description for 305 WAVERLEY STREET
Exceptional 9-unit multi-family property in the heart of Downtown Ottawa. Offering 4 two-bedroom units, 3 one-bedroom units, and 2 bachelor units, each featuring very spacious layouts, soaring ceilings, hardwood floors, and charming architectural details. Major upgrades include a new roof (2025). Each unit is separately metered for hydro, with tenants paying their own electricity, keeping operating costs low. Features include 9 hydro meters, 9 rented hot water tanks, a rented natural gas boiler with radiator heating, coin-operated laundry, and 9 surface parking spaces. Currently generating over $182,000 annually, with significant upside through rent increases as many units remain below market. Set on over 5,800 sq. ft. of valuable land, this property also offers strong long-term potential for redevelopment or expansion. The neighbourhood is one of Ottawa's most desirable: steps to the Museum of Nature, the Rideau Canal, Elgin Streets vibrant shops and restaurants, the Glebe, parks, schools, and excellent transit. Always in demand among professionals, retirees, and students, this location ensures strong tenant retention and future rent growth. A rare opportunity to acquire a centrally located, income-generating property with spacious units, proven performance, and outstanding upside potential. (id:38686)
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Property Details
Property Tax
: $25,566 (2024)MLS® #
: X12365393
Home Features
Property Type
: MultiFamily
Interior Features
Heating
: Heat Pump, Natural gasBasement
: Partially finished, N/A
Utilities
Sewer
: Sanitary sewer
Other
Parking Features
: No GarageExterior Features
: Brick
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