$1,550,000

For sale

388 Winston Avenue, Ottawa - Multi-family for Sale

388 Winston Avenue, Ottawa, Ontario, K2A1Y5

6 beds3 baths3 parking1,750 ft²33 × 90 ft (2,973 sq ft) lot sizeListed 14 days ago

Overview

This multi-family property in Ottawa is for sale offering roughly 1,750 sq ft of space. It has been on the market 14 days, fresher than the Ottawa average of 62 days.

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Description

Exceptional investment opportunity in the heart of Westboro! This income-generating triplex features three spacious 2-bedroom, 1-bathroom units, each with updated kitchens and bathrooms, functional layouts, and the convenience of in-unit laundry. Each unit is individually metered for hydro and gas, offering added convenience and potential savings for ownership. With three separate units and three parking spaces, this property offers excellent income potential and an opportunity to build long-term wealth in one of Ottawa's most desirable rental markets. The well-designed floor plans and sought-after two-bedroom configurations appeal to a broad range of tenants. Ideally located steps from Westboro's trendy shops, restaurants, cafés, parks, and convenient transit, this property combines a prime location with strong rental appeal. An excellent opportunity to expand your investment portfolio in a highly desirable Ottawa neighbourhood! (id:66096)

Property Details

MLS®: X14101292
Property Type: Multi-family
Bedrooms: 6
Beds (above / below): 6 above · 0 below
Bathrooms: 3
Parking: 3
Interior Size: 1,750 ft²
Lot Size: 33 × 90 ft (2,973 sq ft)
Frontage: 33 ft
Storeys: 2
Basement: Finished, Full
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: No Garage
Fireplace: Yes
Property Tax: $9,961/yr
Listed: 14 days ago

Features

Appliances: Washer, Refrigerator, Dishwasher, Stove, Dryer, Water Heater
Foundation: Poured Concrete
Exterior: Brick, Vinyl siding

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

14d

Ottawa listings, avg age

62d

Price / ft²

$886

List price

$1.55M

Haho

This 6-bed multi-family in Ottawa has been listed for 14 days, which is 48 days fresher than the city average of 62. Act while there is still low competition.

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Listed by RE/MAX HALLMARK REALTY GROUP · Nicholas Labrosse

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (K2A)

This home lists at $1,550,000, about 14.8× the local median household income of $105,000.

Carrying it typically needs a household income of about $302,769 (20% down, 25-yr amortization, stress-tested) — roughly 188% above the area median.

Median household income: $105,000
Population: 17,156
Median age: 47.2
Owner / renter: 60% / 40%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA K2A)

$1,550,000· $886/ft²

For sale

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Full Cost Breakdown

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Down Payment20% · $310,000

Min 20%50%

Mortgage payment$6,610/mo

Property tax (est.)$830/mo

Total monthly$7,440

Cash Needed to Close

Down payment (20%)$310,000

Land transfer tax$27,475

Est. closing costs$7,150

Total cash needed$344,625

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