This exceptional parkside property offers a rare blend of urban character, immediate cash flow, and premium location. Operating as a fiveplex with a non-conforming fifth basement suite (property taxes from the city come for five units), the building features a highly rentable layout anchored by a large two bedroom unit with a spacious living area, and a mix of different sized one bedroom apartments. Location is an incredible selling point here, sitting directly in front of a vibrant park and community recreation centre, being one of the greenest areas in downtown environment, just a short walk to the best of Chinatown, Little Italy, and the Glebe. The investment delivers total peace of mind with approximately $64,020 in yearly rent income, fully occupied by respectful young professionals. This property has been meticulously maintained with high-value updates already completed, including a new roof and eavestroughs in November 2023, an updated main electrical panel in 2015, and a steady history of interior refreshes to the flooring, washrooms, and appliances. This is a turnkey addition to any portfolio, offering massive long term value and clear rental upside based on its irreplaceable setting and solid condition. The lot comes with two parking spaces: one is designated for tenant use, and the other is a legal easement reserved for the neighboring property. (id:25961)
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Rooms
| Level | Type | Dimensions |
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Details
- Equipment: Water Heater
- Parking Spaces: 2
- Rental Equipment: Water Heater
- Transaction: For sale
- Zoning Description: TM14H(14.5)
Building
- Appliances: Stove, Refrigerator
- BasementType: N/A (Finished)
- Basement Development: Finished
- Bedrooms Main Level: 5
- Cooling: None
- Exterior Finish: Brick
- Fireplace Present: False
- Foundation: Stone
- Bathrooms (Total): 5
- Heating: Forced air
- Heating Fuel: Natural gas
- Size Interior: 2000 - 2500 sqft
- Stories Total: 2.5
- Type: Other
- Utility Water: Municipal water
Land
- Sewer: Sanitary sewer
- Size Frontage: 24 ft
- Size Irregular: 24 x 99.1 FT
Listing provided by ROYAL LEPAGE INTEGRITY REALTY
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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 634 GLADSTONE AVENUE in Ottawa Ontario. It was last modified on May 29th, 2026. Contact the Nancy Wright Team to schedule a viewing or to discover other Ottawa homes for sale.