123 Mason Terrace, Glebe - Ottawa East And Area

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.

Open House Sunday May 31st 2PM-4PM. Nestled on prestigious Third Avenue in the heart of the Glebe between Percy and Chrysler. This beautifully maintained 4 bedroom, 2.5 bathroom home offers the perfect blend of character, space, and comfort, just steps to top rated schools, parks, shops, cafés, and all the amenities this sought after neighbourhood is known for. With an estimated 2,829 sq. ft. of living space, this exceptional property offers four levels of thoughtfully designed living space ideal for families and entertaining alike. Set on a fully fenced, landscaped, and low maintenance lot, the home features mature perennial gardens, patios, and a large covered front porch perfect for outdoor living. An irrigation system services both the front and back yards for added convenience.The spacious layout features a large open concept kitchen overlooking a relaxing sunroom with a heated floor and a dual sided fireplace shared with the family room, creating a warm and inviting atmosphere year-round. Upstairs offers four generous bedrooms along with a dedicated den ideal for a home office or study space. The partially finished basement includes a versatile soundproofed room currently used as a gym but equally suited for a music studio, media room, or creative space. Many updates have been completed over the years, including a major 3-storey addition designed by Barry Hobin, a whole home Kohler 20kW generator installed in 2023, and a whole home RainSoft water filtration system featuring reverse osmosis drinking water and carbon filtration to all taps for added peace of mind. This is a rare opportunity to own a truly special family home on one of the Glebe's most desirable streets.. 48HR IRREVOCABLE ON ALL OFFERS until Sunday May 31st at 6PM, then 24HR IRREVOCABLE ON ALL OFFERS.

This Glebe property has 3 self-contained units, each with its own heating/cooling, hot water tank, laundry, hydro, gas and water metering - a major operational advantage rarely found in older central Ottawa multi-unit properties. Substantially redeveloped between 2021 and 2022, the property features major updates to plumbing, electrical, windows, bathrooms, kitchens, appliances, insulation, lighting and mechanical systems. Plumbing was completely replaced, all light fixtures were updated, and LED lighting runs throughout. The basement was waterproofed with interior wrap, weeping tile and sump pit, then spray foam insulated; the attic was upgraded with cellulose insulation. Water meter increased to 3/4 inch. Ask for the full list of updates!The main floor 2-bedroom unit is leased month-to-month at $2,520/month plus utilities and includes the front parking pad. The basement unit is leased until the end of August at $2,000/month including utilities, with no parking. The top unit is owner-occupied, creating an excellent opportunity for an owner-occupier, multi-generational living, or investor seeking future rental upside. Private driveway and carport-style garage. Turn-key property done top to bottom. Steps from Bank Street, Lansdowne, the Canal, parks, restaurants, shops and transit. A clean, income-producing Glebe asset with the hard, expensive work already completed. 24 hours' notice required for showings. 24 hours irrevocable on all offers.