Multiplex · For sale

54 Centennial Boulevard, Glebe - Ottawa East and Area

$1,850,000

Listing brokerage: SLEEPWELL REALTY GROUP LTD · MLS® X13022406

Property report for this address · zoning, second units, flood, schools (public records)

Listing brokerage

SLEEPWELL REALTY GROUP LTD

Type

Multiplex

Deal

For sale

Category

Residential · Multi-unit homes

Bedrooms

10

Bathrooms

6

Size

3500-5000 sq ft

Lot

176.3 x 0 ft

Area

4405 - Ottawa East

MLS® number

X13022406

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 $106,540.92 and NOI of $77,653.92. Recent capital improvements include a full roofing system replacement in 2025, extensive masonry repairs in 2025 including brick replacement/repointing, 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 5) 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.