388-390 Chapel Street Ottawa, Ontario K1N 7Z6
$3,509,000
Outstanding investment opportunity in the heart of Sandy Hill, just steps from the University of Ottawa. 388-390 Chapel consists of two fully renovated triplexes built in identical style from the ground up. Each building offers a 5-bedroom, 2-bathroom unit on the main level, a 3-bedroom, 1-bathroom unit on the second floor, and a 4-bedroom, 1-bathroom unit on the third floor. All units are furnished and operated on an all-inclusive rental model, making them highly attractive to students and young professionals while minimizing vacancy risk. The property produces a gross annual income of $266,952 and a Net Operating Income of $192,956, translating into a solid 5.5% cap rate. With upgraded infrastructure, modern finishes, and efficient building systems, the asset is positioned for long-term stability with reduced operating costs. The location further strengthens the investment case, boasting a 90 Walk Score, 80 Transit Score, and 94 Bike Score, ensuring tenants have immediate access to campus, the ByWard Market, cafés, restaurants, shopping, and everyday amenities. For investors seeking a turnkey, high-performing property in one of Ottawas most established rental markets, 388-390 Chapel delivers strong current income, desirable location, and long-term appreciation potential. (id:49712)
Property Details
| MLS® Number | X12401623 |
| Property Type | Multi-family |
| Neigbourhood | Sandy Hill |
| Community Name | 4004 - Sandy Hill |
Building
| Cooling Type | Fully Air Conditioned |
| Heating Fuel | Natural Gas |
| Heating Type | Hot Water Radiator Heat |
| Size Exterior | 3842 Sqft |
| Size Interior | 3,842 Ft2 |
| Type | Multi-family |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Size Depth | 73 Ft ,4 In |
| Size Frontage | 52 Ft ,6 In |
| Size Irregular | Bldg=52.5 X 73.37 Ft |
| Size Total Text | Bldg=52.5 X 73.37 Ft |
| Zoning Description | R4s[480]-c |
https://www.realtor.ca/real-estate/28858551/388-390-chapel-street-ottawa-4004-sandy-hill
423 Bronson Ave
Ottawa, Ontario K1R 6J5
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September 13 2025 01:26:08
Ottawa Real Estate Board
Sleepwell Realty Group Ltd
