54 Centennial Blvd - Apartments FOR SALE


Ottawa, ON K1S 0M9- Downtown
$1,900,000 CAD
613-899-3008
54 Centennial Blvd, Ottawa, ON for Sale
$1,900,000 CAD
Apartments - FOR SALE
1/2
null | 3.86% Cap Rate

54 Centennial Blvd
Ottawa, ON K1S 0M9
Downtown


HIGHLIGHTS

  • Fully leased 6-unit property generating strong income with NOI of $73,429.92.
  • Recent upgrades include a new roofing system in 2025 and masonry restoration with structural crack remediation.
  • Diverse unit mix with demonstrated rent growth potential, supported by a recent lease at $2,000/month for a two-bedroom unit.
  • Additional value-add and redevelopment potential with large lot frontage, garage, and flexible parking configuration identified in prior survey.

OVERVIEW

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 $102,316.92 and NOI of $73,429.92. Recent capital improvements include a full roofing system replacement in 2025, extensive masonry repairs in 2025 including brick replacement, repointing and structural crack remediation, 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 3) 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.

FOR SALE DETAILS

PRICE

$1,900,000 CAD

PRICE/SF

$282 CAD /SF

# OF UNITS

6

PRICE/UNIT

$316,667

CAP RATE

3.86%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1951

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,287 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Adam PearceSLEEPWELL REALTY GROUP LTDMore Info
613-899-3008

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Adam PearceSLEEPWELL REALTY GROUP LTDMore Info
613-899-3008

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.