Triplexes for Sale in Ottawa

Three-unit rental properties across Ottawa and Eastern Ontario, from century homes converted to three units to purpose-built triplexes.

Ottawa triplexes

Why investors look at triplexes

A triplex adds a third rent to the same roof, land and property tax bill. That extra unit spreads fixed costs further and softens the effect of one vacancy, while the building is still small enough to manage yourself and finance as residential.

Many Ottawa triplexes are older homes converted to three units, especially in central neighbourhoods. Others are purpose-built. Conversions need a careful look at legal status, fire separations and services; purpose-built buildings tend to be simpler to own.

See current listings below, our full multifamily real estate services, and how to evaluate a multifamily property.

3 units

more income on the same land

Residential

financing for up to four units

Conversions

legal status checked first

Income

evaluated on actual rents and costs

Live MLS® listings

Triplexes and multifamily for sale in Ottawa

Updated automatically from MLS®. Many plexes and small apartment buildings trade in the pre-market, so tell us what you are looking for.

See all multifamily listings

Before you buy

What to check on a triplex

Legal and registered units

Confirm every unit is legal. We review permits, registrations and any history with the city.

Fire and building code

Separations, exits, alarms and ceiling heights, especially in basement units.

Metering and heating

Who pays hydro, heat and water today, and what it would cost to separate them.

Rent roll

Each unit's rent compared with market, lease dates and any tenants with long tenure.

Capital needs

Roof, windows, electrical capacity and plumbing for three kitchens and bathrooms.

Parking and lot

Parking for tenants, snow storage and whether the lot can support more.

Tell us what you are looking for

Market context

Ottawa rental market today

Ottawa's rental vacancy rate rose to 3% in 2025, according to CMHC, as record rental construction added supply. Near-term rent growth is expected to be more modest, with slower population growth and federal job reductions weighing on demand (Marcus & Millichap).

For buyers, that means underwriting on today's actual rents and realistic vacancy rather than last year's rent growth. Over the long term, Ottawa's stable institutional economy continues to support rental demand.

Compare a triplex with a fourplex or sixplex on the same income basis before you decide.

What we underwrite

Actual rents against current market rents
Vacancy and credit loss allowance
Operating costs, utilities and who pays them
Capital needs: roof, windows, electrical, plumbing
Net operating income and cap rate
Financing, debt service and cash flow

Explore

More Ottawa multifamily real estate

Duplexes for sale

Two-unit properties for first-time investors and owner-occupiers.

Fourplexes for sale

The largest building still financed as residential.

Sixplexes for sale

Five and six units, eligible for CMHC multi-unit financing.

Apartment buildings for sale

Seven to thirty units for growing portfolios.

Build-to-order rentals

New low-rise rental buildings delivered to investors.

How to evaluate a multifamily property

NOI, cap rates, financing and due diligence.

CMHC MLI Select guide

How the program works for five units and up.

Ottawa Triplex FAQs

Is a triplex better than a duplex?

Often, because the third unit spreads fixed costs and vacancy risk. But it depends on price, condition and rents. We compare them on net operating income and cash flow, not on price per unit.

Can I get a residential mortgage on a triplex?

Buildings of up to four units are generally financed as residential. Talk to your lender or mortgage broker about the options for your situation.

What are the risks with converted triplexes?

Unpermitted units, missing fire separations, shared services and older electrical systems. We help you identify them before you firm up, and recommend inspections.