559 Parkdale Avenue

4504 - Civic Hospital Dows Lake - Civic Hospital and Area K1Y 1H9

Impressive 3-storey circa 1916 triplex income property in a highly sought-after, mature trees neighbourhood near the Experimental Farm, Civic and Royal Ottawa Hospitals, University of Ottawa Heart Institute, Dow's Lake, LRT, schools, and key employment centres. The largest unit will soon be vacant and ready for new owner/occupant. Fully and professionally renovated from top to bottom, this exceptionally well-managed triplex offers true owner/investor peace of mind, with attention to maintenance, durability, and ease of administration. Ideal for an owner-occupant investor: live-in one unit while tenants help offset ownership costs. One rental unit per floor: a 1-bedroom main-level unit, two spacious 2-bedroom units on the 2nd and 3rd floors, plus a bonus rentable main-floor home office/den with separate access and its own 2-piece bathroom. Potential yearly gross income of $99,000 and NOI of approx. $77,680 with the front office/den and 4th parking space income added. Updated kitchens & bathrooms, quality appliances including dishwashers, granite counters in the largest unit, hardwood floors, updated windows and doors, skylight, two gas fireplaces, four maintenance-free fiberglass/aluminum decks with glass railings including around front veranda, Berber-carpeted halls over ceramic tile, intercom system, and separate basement storage for each unit. Excellent utility separation with five hydro meters, three gas meters, three HVAC units, tenant-paid hot water tanks, and basement laundry with separate hot water connections for each unit. All electrical fixtures, blinds, and shutters included. Sprinkler-irrigated lawn and flower beds add curb appeal. Four paved parking spaces, including one unused for extra income potential. Quick Queensway access & proximity to major employment nodes help support strong tenant demand. A rare totally renovated central Ottawa triplex combining solid income, thoughtful renovations, and lifestyle flexibility, main unit soon ready to move-in!