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Business For Sale · Multifamily

163 FIRST AVENUE, Ottawa

163 FIRST AVENUE, Ottawa, ON K1S2G3

$1.8M total

4,738 SF

Asset Class

Multifamily

Size

4,738 SF

Building class

B

Zoning

RF6 — Medium Density

$ / SF

$380

Occupancy

88%

About this property

Rare six-unit multifamily investment opportunity in the heart of the Glebe, one of Ottawa's most desirable and amenity-rich urban neighbourhoods. This well-maintained purpose-built apartment building offers a highly sought-after unit mix comprising four two-bedroom suites and two one-bedroom suites, catering to a stable tenant profile that includes working professionals and couples. Building systems include hot water radiator heating, six dedicated storage lockers, recently roughed-in common laundry facilities which can accommodate one washer and one dryer, and other notable capital improvements including a flat roof replacement completed in 2019, with an additional roof section replaced in 2025. The property benefits from N4B [1474] H(11) zoning, providing investors with long-term positioning in a neighbourhood characterized by strong rental demand, limited housing supply, and exceptional walkability. Residents enjoy immediate access to a wide range of everyday conveniences, all within walking distance, including Metro Glebe, Shoppers Drug Mart, Starbucks, RBC Royal Bank, Capital Home Hardware, and Canada Post. The property also benefits from proximity to some of Ottawa's most prominent destinations, including TD Place Stadium (1.4 km) and Parliament Hill (2.3 km), further enhancing its appeal to existing and prospective tenants. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$1.80M
Down payment30% · $540K
Interest rate6.25%
Amortization25 years
Occupancy88%
Expense growth2.5%

Monthly debt service

$8K

Projected NOI

$80K

Annual cash flow

$-20K

Cash-on-cash

-3.72%

DSCR

0.80

Going-in cap

4.43%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Rent roll (estimated)

TenantAreaExpiry
Meridian Health Group2,103 SF2031-07
Meridian Health Group1,044 SF2031-07
Meridian Health Group520 SF2031-07
Meridian Health Group522 SF2031-07

Area demographics

Trade area within 3 miles of the property.

Population

73,695

Households

31,429

Median income

$116,000

Median age

32.3

Daytime population

93,659

5-yr growth

3.8%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 163 FIRST AVENUE, Ottawa.

NDA required

  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.