Apartment buildings of 12 units and more across Ottawa and Eastern Ontario, for investors building or adding to a serious portfolio.
Apartment Buildings for Sale in Ottawa
Ottawa apartment buildings
Buying an apartment building in Ottawa
Apartment buildings are where private investors build lasting wealth. From a well-located walk-up to a large professionally managed building, scale spreads risk across more tenants, supports professional management and makes every improvement count across more units.
These buildings trade less often than plexes, and many change hands before they are publicly listed. Buyers who have their financing lined up and know what they are looking for are best placed to act when the right one comes up.
See current listings below, our full multifamily real estate services, and how to evaluate a multifamily property.
12+ units
mid-size to large apartment buildings
Income
valued on net operating income
CMHC
multi-unit insured financing options
Pre-market
many buildings trade before listing
Live MLS® listings
Apartment buildings and multifamily for sale in Ottawa
Updated automatically from MLS®. Many multifamily buildings, especially larger ones, trade in the pre-market, so tell us what you are looking for.
Due diligence
What we review on an apartment building
A building is only as good as its income, its expenses and its condition.
Rent roll audit
Every lease, rent, deposit and arrears, compared with market rents for each unit type.
Operating statements
Two or three years of actual income and expenses, not just the vendor's summary.
Building condition
A building condition assessment for roof, envelope, mechanical, elevators and parking.
Environmental
Oil tanks, asbestos and other environmental risks for older buildings.
Financing
Debt coverage on actual income, CMHC eligibility and the equity required.
Management
Self-management or a property manager, and what each costs.
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.
For buildings with below-market rents, the long-term upside comes from turnover and improvements over time, which we model separately from today's income. For larger acquisitions and portfolios, see large apartment buildings and portfolios.
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
Large buildings and portfolios
Larger apartment investments for private wealth and investment groups.
6 to 12 unit buildings
Sixplexes to 12-unit buildings with CMHC multi-unit financing.
Fourplexes and fiveplexes
Four- and five-unit rental buildings.
Triplexes
Three units: more income, still simple to manage.
Duplexes
Two-unit properties for investors and owner-occupiers.
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 Apartment Building FAQs
How do you value an apartment building?
By the income approach: net operating income divided by a market cap rate, based on actual rents and costs and supported by comparable sales. Price per unit says little about how a building will perform, so we do not rely on it.
How do I finance an apartment building?
Most buyers use conventional commercial mortgages or CMHC-insured multi-unit financing. Your lender or mortgage broker can advise on the right structure; we build offers with realistic financing conditions.
Why do so many apartment buildings sell before they are listed?
Many owners prefer to present their building to serious buyers privately first. Buyers who tell us what they want are matched with these opportunities as they come up.
Do you help sell apartment buildings?
Yes. We help owners prepare an investment pro forma, evaluate value using best practices, often recommending an appraisal, and market the building in the pre-market and then publicly.
Mitch Gauzas, REALTOR®
