161-163 Gilmour Street, Ottawa, photo 1 1 / 24

$1,999,000

161-163 Gilmour Street

Ottawa Centre/Golden Triangle, Ottawa, ON K2P0N8 · MLS® X14020934

  • 9Bedrooms
  • 6Bathrooms
  • 4Parking

About this property

Few properties in Ottawa carry the locational weight of 161-163 Gilmour Street. Fronting directly onto Minto Park in the heart of the Golden Triangle, steps from Elgin Street, the Rideau Canal, and Parliament Hill, this is the kind of address that keeps units filled and tenants renewing. This fully occupied 5-unit multiplex generates $11,358 per month in gross rent, $136,302 annually, with a Net Operating Income of approximately $96,584 and a cap rate of 4.83%. It has been continuously occupied since the current owner's purchase in 2019, with rents adjusted annually in accordance with the Landlord and Tenant Board guideline and no vacancy at any point during that period. The unit mix includes a 3 bedroom/2 bathroom, two 2 bedroom/1 bathroom units, and two 1 bedroom/1 bathroom units; a diversified range of price points within a single asset, each with its own large outdoor patio. Over $275,000 has been invested since 2020, covering two new boilers (2022), seven hot water tanks with 10-year warranties (2020/21), a full exterior restoration including brick re-pointing, rebuilt front arches, interlock walkway, and a complete repaint (2023), full asphalt paving of the parking area and laneway (2025), an ongoing window replacement program, individual unit renovations across multiple floors, refreshed building hallways, and a new coin-operated laundry (2026). The building is on active professional service contracts for snow removal, annual HVAC maintenance, and fire safety inspections; run like an investment, not a hobby. Parking is included for four of the five units. Full financial detail and a complete capital improvement history are available; investor package attached. The Golden Triangle draws government workers, downtown professionals, and students year-round, and with multiple OC Transpo routes at the door and virtually everything within walking distance, the tenant pool here is deep and the vacancy risk is about as low as it gets in this city. (id:65933)

Type
Other
Category
Multi-family
Annual taxes
$14,711
Updated
Oct 13, 2026

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Estimate only, not financial advice. Rent is reduced by vacancy, then management is taken on the rent collected; net operating income = that, less property tax and other costs; cap rate = net operating income ÷ price; cash flow also subtracts the mortgage (semi-annual compounding, as Canadian mortgages use). Vacancy default: CMHC Rental Market Report, Ottawa, October 2025.

Listed by Re/Max Hallmark Realty Group.

Listing data provided by REALTOR.ca DDF® and owned by The Canadian Real Estate Association (CREA). Deemed reliable but not guaranteed.

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