Four-unit rental buildings across Ottawa and Eastern Ontario: the largest building most investors can still finance as residential.
Fourplexes for Sale in Ottawa
Ottawa fourplexes
The fourplex: a step toward a real portfolio
A fourplex sits at a sweet spot. Four rents cover the mortgage and costs more comfortably than two or three, one vacancy is a quarter of the income rather than half, and the building can usually still be financed with a residential mortgage.
Ottawa has a good supply of fourplexes, from older side-by-side buildings to newer purpose-built ones, and more are being built as the city allows more homes in established neighbourhoods. Each one needs to be judged on what it actually earns and what it will cost to keep.
See current listings below and our full multifamily real estate services.
4 units
income from four tenants
25%
of income at risk from one vacancy
Residential
financing for up to four units
Income
evaluated on actual rents and costs
Live MLS® listings
Fourplexes 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.
Before you buy
What to check on a fourplex
Rent roll and leases
Rents compared with market, lease dates, deposits and tenant history.
Operating costs
Taxes, insurance, utilities, maintenance and management, based on real bills.
Separate meters
Whether tenants pay their own hydro and heat, or you do.
Building systems
Roof, windows, boiler or furnaces, electrical service and plumbing.
Laundry and parking
Coin or in-suite laundry and parking can add income or cost.
Next step up
Whether you are better served by a fourplex now or a five-unit building with CMHC financing.
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.
Once you reach five units, buildings become eligible for CMHC multi-unit insured financing, including MLI Select. See our MLI Select guide.
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.
Triplexes for sale
Three units: more income, still simple to manage.
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 Fourplex FAQs
Is a fourplex financed as residential or commercial?
Buildings of up to four units are generally financed as residential. Five units and up are commercial, and can use CMHC multi-unit insured financing.
Can I build a fourplex in Ottawa?
Ottawa is updating its zoning to allow more homes in established neighbourhoods, and provincial rules already allow up to three units on most serviced lots. Whether a fourplex is allowed depends on the specific property. See our build-to-order program for new rental buildings.
How do you value a fourplex?
On its income: rents, vacancy, operating costs and net operating income, compared with similar sales. We avoid price per unit, which says little about how a building will perform.
Do you help sell fourplexes?
Yes. We help owners prepare an investment pro forma, evaluate value using best practices, often recommending an appraisal, and market the property to investors.
Mitch Gauzas, REALTOR®
