391 Greenwood Avenue, Carlingwood - Westboro and Area
For sale · $1,199,999
6 beds · 3 baths · Triplex · 1500-2000 sq ft
About this home
Prime Westboro Income Opportunity! An exceptional chance to own a fully updated, all-brick legal duplex with a fully permitted basement secondary dwelling unit, offering three self-contained two-bedroom units in one of Ottawa's most sought-after urban neighbourhoods. Set on a generous 49.02' x 66.0' lot, this income property combines strong cash flow, quality upgrades, and long-term upside. Each unit is separately hydro-metered and equipped with air conditioning, while two driveways provide valuable on-site parking for all the tenants. The property generates approximately $80,400 in annual gross rental income. Based on seller-provided operating expenses, the estimated Net Operating Income is approximately $60,775.63 per year, representing an estimated 5.07% cap rate. With refreshed interiors, solid in-place income, and a premium Westboro location close to shops, transit, parks, schools, beach and everyday amenities, this is a compelling opportunity for investors seeking immediate income with future growth potential. The property may also offer additional intensification possibilities, including the potential for another secondary dwelling unit or coach house/garden-suite-style development, subject to applicable zoning, planning, building code requirements, and municipal approvals. Buyer to independently verify all permitted uses and development potential. ps: The listing photos are of Apartment #1 only and were taken before the tenants moved in. Apartment #2 offers a similar layout and finish. The basement unit is approximately 200 sq. ft. smaller than the other units and includes two bedrooms, a full bathroom, kitchenette, living room, furnace room, mechanical room, and laundry room.
Listing details
- MLS® number: X13812090
- Listed on September 21, 2026
- 37 photos
Listing brokerage: INNOVATION REALTY LTD.
See every photo, drive times from your places, the neighbourhood and nearby schools in the Dibz app. Sold prices and listing history are for signed-in members.
MLS® listing data by PropTx under licence from TRREB, deemed reliable but not guaranteed accurate by PropTx. Operated by HighPoint Homes Realty, Brokerage.