Patrick Walchuk takes a recent sale of a Multi Unit Residential Building in the Ottawa area and then breaks down the numbers to see if was a good investment. If you want to see even more, we have an archive at our YouYube Channel for Investors
Analyzing the Financials
Sixplex that SOLD in August, 2025
This 6-Unit is located in Central Ottawa, with six 1-bed Units. The property was listed for $1,600,000, and sold for $1,400,000.
- Scheduled Rental Income was $102,500
- Effective Rental Income was $99,425
- Operating expenses of $24,563
- Total Operating Expenses, with 10% for maintenance/management $34,506
- Net operating income of $64,920
- Cap Rate was 4.64%
- Operating Expense Ratio was 34.7%
- Sold for 14 times the Gross Income
- Sold for 22 times the Net Income
With a 34% down payment of $476,000, this leaves a mortgage of $924,000. At a 5% rate, amortized over 25 years, the monthly mortgage payment would be $5,374, for an Annual Debt Service of $64,488 (this is the annual mortgage payment).
The final cash flow on this building was $432 and the ROI (return on investment) was 0.09%.
Fourplex that SOLD in August 2025
This property is located in Central Ottawa, with three 2-bedroom units, and one Bachelor unit. The property was listed for $1,175,000 and sold for $1,123,000.
- Scheduled Rental Income was $72,142
- Effective Rental Income was $69,977
- Operating expenses of $19,605
- Total Operating Expenses, with 10% for maintenance/management $26,603
- Net operating income of $43,375
- Cap Rate was 3.86%
- Operating Expense Ratio was 38%
- Sold for 16 times the Gross Income
- Sold for 26 times the Net Income
With a 43% down payment of $482,890, this leaves a mortgage of $640,110. At an interest rate of 4.6%, amortized over 25 years, the monthly mortgage payment would be $3,579, for an Annual Debt Service of $42,948 (this is the annual mortgage payment).
The final cash flow on this building was $427 and the ROI (return on investment) was 0.09%.
Triplex that SOLD in July, 2025
This property is located in Far West Ottawa, with two 3-bedroom units, one 2-bedroom unit.
The property was listed for $1,225,000 and sold for $1,195,600.
- Scheduled Rental Income was $80,400
- Effective Rental Income was $77,988
- Operating expenses of $16,910
- Total Operating Expenses, with 10% for maintenance/management $24,709
- Net operating income of $53,279
- Cap Rate was 4.46%
- Operating Expense Ratio was 31.7%
- Sold for 15 times the Gross Income
- Sold for 22 times the Net Income
With a 35% down payment of $418,460, this leaves a mortgage of $777,140. At an interest rate of 4.6%, amortized over 25 years, the monthly mortgage payment would be $4,343, for an Annual Debt Service of $52,116 (this is the annual mortgage payment).
The final cash flow on this building was $1,163 and the ROI (return on investment) was 0.28%.
Fourplex that SOLD in July, 2025
This 4-Unit is located in Central Ottawa, with two 2-Bedroom Units, and 2 1-Bedroom Units.
The property was listed for $989,000, and sold for $950,500.
- Scheduled Rental Income was $87,000
- Effective Rental Income was $84,390
- Operating expenses of $26,657
- Total Operating Expenses, with 10% for maintenance/management $35,096
- Net operating income of $49,294
- Cap Rate was 5.19%
- Operating Expense Ratio was 41.6%
- Sold for 11 times the Gross Income
- Sold for 19 times the Net Income
With a 23% down payment of $218,500, this leaves a mortgage of $731,500. At a 4.6% rate, amortized over 25 years, the monthly mortgage payment would be $4,090, for an Annual Debt Service of $49,080 (this is the annual mortgage payment).
The final cash flow on this building was $214 and the ROI (return on investment) was 0.10%.
Triplex that SOLD in June, 2025
This 3-Unit is located in South Ottawa, with two 2-Bedroom Units, one 1-Bedroom Unit.
The property was listed for $799,000, and sold for $750,500.
- Scheduled Rental Income was $52,200
- Effective Rental Income was $50,634
- Operating expenses of $10,974
- Total Operating Expenses, with 10% for maintenance/management $16,037
- Net operating income of $34,597
- Cap Rate was 4.61%
- Operating Expense Ratio was 31.7%
- Sold for 15 times the Gross Income
- Sold for 22 times the Net Income
With a 32% down payment of $240,160, this leaves a mortgage of $510,340. At a 4.6% rate, amortized over 25 years, the monthly mortgage payment would be $2,854, for an Annual Debt Service of $34,248 (this is the annual mortgage payment).
The final cash flow on this building was $349 and the ROI (return on investment) was 0.15%.
8-Unit that SOLD in June, 2025
This property is located in Central Ottawa, with three 2-bedroom units, two 1-bedroom units and 3 bachelor suites.
The property was listed for $1,595,000 and sold for $1,595,000.
- Scheduled Rental Income was $138,047
- Effective Rental Income was $133,906
- Operating expenses of $36,770
- Total Operating Expenses, with 10% for maintenance/management $50,161
- Net operating income of $83,745
- Cap Rate was 5.25%
- Operating Expense Ratio was 37.5%
- Sold for 12 times the Gross Income
- Sold for 19 times the Net Income
With a 22% down payment of $350,900, this leaves a mortgage of $1,244,100. At an interest rate of 4.6%, amortized over 25 years, the monthly mortgage payment would be $6,954, for an Annual Debt Service of $83,448 (this is the annual mortgage payment).
The final cash flow on this building was $297 and the ROI (return on investment) was 0.08%.
Central 10-Unit that SOLD in May-2025
This 10-Unit is located in Central Ottawa, with four Bachelor Apartments, four 1-Bedroom Units, one 2-Bedroom Unit, and one 3-Bedroom Unit.
The property was listed for $2,595,000, and sold for $2,500,000.
- Scheduled Rental Income was $170,983
- Effective Rental Income was $165,854
- Operating expenses of $44,975
- Total Operating Expenses, with 10% for maintenance/management $61,560
- Net operating income of $104,293
- Cap Rate was 4.17%
- Operating Expense Ratio was 37.1%
- Sold for 15 times the Gross Income
- Sold for 24 times the Net Income
With a 42% down payment of $1,050,000, this leaves a mortgage of $1,450,000. At a 5.25% rate, amortized over 25 years, the monthly mortgage payment would be $8,641, for an Annual Debt Service of $103,692 (this is the annual mortgage payment).
The final cash flow on this building was $601 and the ROI (return on investment) was 0.06%.
South Ottawa Tripex that SOLD in April, 2025
This property is located in South Ottawa, with three 2-bedroom units.
The property was listed for $799,900 and sold for $755,000.
- Scheduled Rental Income was $57,600
- Effective Rental Income was $55,872
- Operating expenses of $18,613
- Total Operating Expenses, with 10% for maintenance/management $24,200
- Net operating income of $31,672
- Cap Rate was 4.19%
- Operating Expense Ratio was 43.3%
- Sold for 14 times the Gross Income
- Sold for 24 times the Net Income
With a 40% down payment of $302,000, this leaves a mortgage of $453,000. At an interest rate of 5%, amortized over 25 years, the monthly mortgage payment would be $2,635, for an Annual Debt Service of $31,620 (this is the annual mortgage payment).
The final cash flow on this building was $52 and the ROI (return on investment) was 0.02%.
Central Tripex that SOLD in March, 2025
This property is located in Central Ottawa, with two 2-bedroom units and one 1-bedroom unit.
The property was listed for $860,000 and sold for $805,000.
- Scheduled Rental Income was $62,007
- Effective Rental Income was $60,147
- Operating expenses of $16,725
- Total Operating Expenses, with 10% for maintenance/management $22,740
- Net operating income of $37,407
- Cap Rate was 4.65%
- Operating Expense Ratio was 37.8%
- Sold for 13 times the Gross Income
- Sold for 22 times the Net Income
With a 34% down payment of $273,700, this leaves a mortgage of $531,300. At an interest rate of 5%, amortized over 25 years, the monthly mortgage payment would be $3,090, for an Annual Debt Service of $37,080 (this is the annual mortgage payment).
The final cash flow on this building was $327 and the ROI (return on investment) was 0.12%.
Central 5 Unit Building Sold in Oct. 2024
This 5-Unit is located in Central Ottawa, with one Bachelor Apartment, one 1-Bedroom Unit, one 2-Bedroom Unit, and two 3-Bedroom Units.
The property was listed for $1,200,000, and sold for $1,145,000.
- Scheduled Rental Income was $106,030
- Effective Rental Income was $102,849
- Operating expenses of $20,005
- Total Operating Expenses, with 10% for maintenance/management $30,290
- Net operating income of $72,559
- Cap Rate was 6.34%
- Operating Expense Ratio was 29.5%
- Sold for 11 times the Gross Income
- Sold for 16 times the Net Income
With a 20% down payment of $229,000, this leaves a mortgage of $916,000. At a 4.7% rate, amortized over 25 years, the monthly mortgage payment would be $5,172, for an Annual Debt Service of $62,064 (this is the annual mortgage payment).
The final cash flow on this building was $10,495 and the ROI (return on investment) was 4.58%.
East Ottawa 4 Unit Building Sold in Oct. 2024
This property is located in East Ottawa, with four 2-bedroom units.
The property was listed for $1,449,900 and sold for $1,370,000.
- Scheduled Rental Income was $88,800
- Effective Rental Income was $86,136
- Operating expenses of $16,166
- Total Operating Expenses, with 10% for maintenance/management $24,780
- Net operating income of $61,356
- Cap Rate was 4.48%
- Operating Expense Ratio was 28.8%
- Sold for 16 times the Gross Income
- Sold for 22 times the Net Income
With a 34% down payment of $465,800, this leaves a mortgage of $904,200. At an interest rate of 4.7%, amortized over 25 years, the monthly mortgage payment would be $5,106, for an Annual Debt Service of $61,266 (this is the annual mortgage payment).
The final cash flow on this building was $90 and the ROI (return on investment) was 0.02%.
Central Triplex Sold in Sept. 2024
This property is located in Central Ottawa, with one 1-bedroom unit, and two 2-bedroom units.
The property was listed for $875,000 and sold for $830,000.
- Scheduled Rental Income was $65,200
- Effective Rental Income was $63,244
- Operating expenses of $19,775
- Total Operating Expenses, with 10% for maintenance/management $26,099
- Net operating income of $37,145
- Cap Rate was 4.48%
- Operating Expense Ratio was 41.3%
- Sold for 13 times the Gross Income
- Sold for 22 times the Net Income
With a 34% down payment of $282,200, this leaves a mortgage of $547,800. At an interest rate of 4.7%, amortized over 25 years, the monthly mortgage payment would be $3,093, for an Annual Debt Service of $37,116 (this is the annual mortgage payment).
The final cash flow on this building was $29 and the ROI (return on investment) was 0.01%.
Central 6 Unit Building Sold in Aug. 2024
This Six to Eight Unit is located in Central Ottawa, with four 1-Bedroom Units, and four 2-Bedroom Units.
The property was listed for $1,397,000, and sold for $1,366,200.
- Scheduled Rental Income was $122,392
- Effective Rental Income was $118,720
- Operating expenses of $42,515
- Total Operating Expenses, with 10% for maintenance/management $54,387
- Net operating income of $64,333
- Cap Rate was 4.71%
- Operating Expense Ratio was 45.8%
- Sold for 12 times the Gross Income
- Sold for 21 times the Net Income
With an 31% down payment of $423,522, this leaves a mortgage of $942,678. At a 4.7% rate, amortized over 25 years, the monthly mortgage payment would be $5,323, for an Annual Debt Service of $63,876 (this is the annual mortgage payment).
The final cash flow on this building was $457 and the ROI (return on investment) was 0.11%.