Ottawa Real Estate Blog

Coming to Ottawa MLS Monday June 1st
List price is $1,290,000

2481 Chasseur Avenue in Heron Park may be one of the best managed and highest grossing 3 unit buildings you will ever see. Fully tenanted on leases until April 30, 2027. No vacancies in 11 years and tenants typically stay 2 to 3 years. 

It's a legal 3 unit building (occupancy permit 2016 on file) and is fire retrofit 2025 (certificate on file) ESA Certificate 2016, so no insurance or mortgage issues. Current zoning is R3 converting to N3 under new zoning regulations. 

The huge lot is 7,470 sq. ft. and may allow for an additional 7 units to be constructed on the lot. 

The large detached 2 car garage with a concrete floor has electricity. This could potentially be a coach house. 

Buyer to perform their due diligence to confirm these possibilities. Garage not rented so this could be an easy and immediate revenue source.

• Apt. #1 mainfloor, 4 beds, $3,500/mo. 
• Apt. #2 top floor, 2 beds, $2,150/mo. 
• Apt #3 lower level, 4 beds, $3,200/mo.

4 hydro meters, 1 per apt. and a 4th for garage and outdoor lights. 

Gas furnace January 2026, 2 owned HWT, AC 2023, AC and Heat controlled by landlord through Ecobee app which has 4 sensors in the building. 

This is a turnkey operation with tenants locked on leases and the units are fully furnished. Tenants provide only their bed linen,towels, dishes, pots and pans.

Gross income $106,200. 

Operating expenses in 2025 are $16,041. 

(taxes $8,411, hydro $1,179, gas $1,452, water $1,999, insurance $3,000 is an estimate. 

This gives you an operating expense ratio of 15% and a cap rate of 7% based upon full list price. 

Your agent can send you the full fact sheet attached to the MLS listing which includes a huge list of updates. 

Leases, expenses and other documents to bemade available upon an accepted offer. 

This property is in great condition,well maintained by meticulous owners and has upside development potential. 

You won't be disappointed.

• Built in 1957
• Lot size - 75 feet by 100 feet
• Taxes - $8410.66 in 2025
• Separate Hydro Meters
• Gas Fireplace
• 6 Parking Spaces
• Fully Fenced
• Carpet Free
• 2 Hot Water Tanks are Owned

INCLUSIONS:  3 Refigerators, 3 Stoves, 2 Hood Fans, 1 Stainless Steel Microwave/Hood Fan, 2 Microwaves, 1 Dishwasher, 2 Mini Freezers, 3 Washer/Dryers.

INTERIOR FURNITURE:  includes Beds, Desks, Chairs, Dressers, Mirrors, Sofas, Rugs, Lights, Pictures, Side Tables, Dining Sets, Shelving and Shelving Units, TV's.

OUTDOOR FURNITURE:  BBQ, Picnic Table, Table with Chairs and Umbrella and Garden Shed.

DIRECTIONS:  East on Heron Road, right on Chasseur Avenue.

Street View around 2481 Chasseur Ave.

Use your mouse and drag the image below

Contact Patrick Walchuk
for More Info or a Viewing

Property is currently off the market

296 Somerset is a 5 Unit Building with 4 residential apartments and a commercial space on the main floor.

Easy to rent at premium prices, this Sandy Hill 5 unit building at 296 Somerset St. East was built in 2021 and gives investors years of minimal maintenance expenditures. It's comprised of 4 residential apartments; each with 4 bedrooms. The 5th unit is Safi Fine Food retail & cafe. 

Each unit has its own high-efficiency furnace, AC, hydro meter and in-unit laundry. 

The building is 3 stories plus finished basement. 

According to attached floor plans unit sizes are;

• Apt. #1 848 sq. ft. (basement) 
• Apt. #2 690 sq. ft. (2nd floor) 
• Apt. #3 844 sq. ft. (2nd/3rd floor) 
• Apt. #4 690 Sq. ft. (3rd floor) Leased
• Retail business is 952 sq. ft. 

Exterior is primarily brick & Hardie Board siding, roof is membrane. 

Owner pays water & WI-FI. Tenants pay heat & hydro except #3, which will be rectified at end of lease. 

Gross income is $235,498. 

Expenses $44,466. 

Net income $191,109. (before mortgage payment)

Hot water is an owned tankless system. 

The building is four blocks from the University of Ottawa so there's always a massive tenant pool. 

Public bus transit right on Somerset Street and the Light Rapid Train system has its own stop right at UOttawa! 

A few blocks to Minto Sports complex, Sandy Hill arena, and all necessary shops and services on Rideau St. This is an investor's dream property, now being offered for the first time. 

Fenced back yard for tenants' enjoyment.

Inclusions; 4 Refrigerators, 4 Stoves, 4 Washers, 4 Dryers, 4 Dishwashers, 4 flat screen TV's, security cameras and router.