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84 Fourth Avenue

4402 - Glebe, Glebe - Ottawa East and Area, K1S 2L2

$1,650,000

Reduced $140,000 from $1,790,000

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  • 5+1 bedrooms
  • 4 bathrooms
  • 4 parking
  • 2500-3000 sq ft

Listed 204 days ago · MLS® X12937508

About this home

Turnkey 4-unit income property in the heart of the Glebe generating $96,724 in gross annual income with a strong NOI of $73,705, offering an exceptional opportunity for investors seeking stable cash flow and long-term upside in one of Ottawa's most sought-after rental markets. This well-maintained building features three legal units plus a fourth non-conforming basement suite, which includes a proper egress window providing a secondary means of escape. Current rents are highly attractive with Unit 1 (main floor 2 bed + den) at $2,700/month, Unit 2 (second level 2 bed + den) at $2,500/month, Unit 3 (third level 1 bed) at $1,891/month, and Unit 4 (basement 1 bed) at $969/month. Each of the upper three units enjoys private outdoor space, including an oversized patio for the main floor unit, significantly enhancing tenant appeal and retention. The property also offers shared laundry facilities and rare on-site parking for four vehicles-a premium feature in the Glebe-including a detached garage with two spaces and two additional surface spots. Beyond the numbers, the building stands out with its character, charm, and architectural presence, blending classic design with functional layouts that consistently attract high-quality tenants. Located in a prime, walkable neighbourhood with strong rental demand, this is an asset where vacancy is virtually nonexistent and tenant quality remains consistently high.

Details

Type
Triplex
Style
3-Storey
Size
2500-3000 sq ft
Lot
49.94 × 102.91 ft
Basement
Full
Garage
Detached
Kitchens
4
Property tax
$12,264 (2025)
Neighbourhood
4402 - Glebe
Municipality
Glebe - Ottawa East and Area

Interior

Bedrooms
5 above ground + 1 below
Bathrooms
1 × 4-piece (main), 1 × 4-piece (second), 1 × 4-piece (third), 1 × 3-piece (basement)
Kitchens
4 (1 below ground)
Rooms
17 above ground + 4 below
Family room or den
No
Fireplace
No
Features
Carpet Free

Heating, cooling and services

Heating
Radiant, Gas
Water and sewer
Sewer

Building and exterior

Style
3-Storey
Exterior
Brick
Roof
Asphalt Shingle
Foundation
Stone
Faces
South

Parking

Garage spaces
2
Total parking
4
Driveway and parking
Private, Reserved/Assigned, Covered

Lot

Size
49.94 × 102.91 ft

More

Possession
TBD
Cross street
Fourth and Bank

History of this address

1 earlier listing at this address, with sold and leased prices. Create a free account or sign in to see them.

Location

Location is approximate. See nearby homes on the map

Recent sales nearby

See what similar homes within 1 km sold for in the last year. Create a free account or sign in to see them.

The neighbourhood

Getting around Very walkable

  • 🚇 Dow's Lake / Lac Dow LRT1.9 km
  • 🚇 Lees LRT2.0 km

Within a 10-minute walk: 4 grocery stores, 58 cafés and restaurants, 12 parks, 6 pharmacies. Nearest grocery: Il Negozio Nicastro (150 m). Nearest park: Lionel Britton Park (250 m).

Schools nearby

Elementary

  • The Element Private6 min walk
  • Corpus Christi School Catholic
    EQAO: Gr 6 reading 88%, math 46%    6 min walk
  • Mutchmor Public School
    EQAO: Gr 6 reading 100%, math 77%    6 min walk
  • First Avenue Public School
    EQAO: Gr 6 reading 93%, math 67%    7 min walk

Secondary

  • Glebe Collegiate Institute
    EQAO: Gr 9 math 74%, literacy test 93%    13 min walk
  • Glashan Public School14 min walk
  • Immaculata High School Catholic
    EQAO: Gr 9 math 55%, literacy test 87%    16 min walk

EQAO: share of students meeting the provincial standard (2024–25). Ontario average: Gr 6 reading 86%, math 51%; Gr 9 math 55%; literacy test 83%.

Closest schools, not school zones. Check which school serves this address with the school board before relying on it.

Who lives here postal area K1S

Owners / renters
51% / 49%
Median household income
$106,000
Average age
41
Children under 15
12%
Homes
30% detached, 28% high-rise
Commute by transit
13%
Population
31,257

Languages spoken most at home besides English: Mandarin 1.6%, Arabic 0.6%, Spanish 0.6%, Iranian Persian 0.4%.

Distances are approximate. Places © OpenStreetMap contributors. Neighbourhood figures: Statistics Canada, 2021 Census. School results: EQAO via Ontario Data Catalogue (Open Government Licence – Ontario).

Living here

Commute

To downtown Ottawa: 3 km. Transit times · Driving times

Noise Nothing major nearby

No highway within 500 m, rail line within 300 m, or airport flight path nearby.

Distances from the map, not noise measurements. Visit at rush hour to judge for yourself.

Internet High-speed

50/10 Mbps or faster available here by cable, fibre or DSL (the federal high-speed target).

From the federal broadband map. Check exact speeds and providers for the address.

Short-term rentals

Only in your principal residence (whole home or part of it), with a City host permit. Rural cottage rentals have a separate permit.

City rules

Roads, rail, airports and planned stations © OpenStreetMap contributors. Internet: Innovation, Science and Economic Development Canada, National Broadband Data.

Listed by SLEEPWELL REALTY GROUP LTD.

Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.

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