Five- and six-unit rental buildings across Ottawa and Eastern Ontario, the first size eligible for CMHC multi-unit insured financing.
Sixplexes and Five-Unit Buildings for Sale in Ottawa
Ottawa sixplexes
Why five and six units change the game
At five units, a building moves from residential to commercial lending, and that opens the door to CMHC multi-unit insured financing. Programs such as MLI Select can offer higher loan-to-value and longer amortizations than conventional loans, which can change the cash flow of a purchase considerably.
Sixplexes also spread risk: one vacancy is a sixth of the income. They are still small enough for a hands-on owner, and large enough to justify professional management as a portfolio grows.
See current listings below, our full multifamily real estate services, and our CMHC MLI Select guide.
5+ units
eligible for CMHC multi-unit financing
Up to 95%
loan-to-value on existing buildings with MLI Select (70+ points)
Up to 50 yrs
amortization at 100 points
1.10
minimum debt coverage ratio, standard rental
Live MLS® listings
Sixplexes 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 five or six unit building
Financing fit
Whether the building can meet CMHC requirements, including the debt coverage ratio on actual income.
Affordability and energy
Whether rents or an energy retrofit could earn MLI Select points, and what that commitment means.
Rent roll
Rents compared with market, lease terms and turnover history.
Building systems
Roof, windows, heating, electrical and plumbing, and their remaining life.
Operating costs
Real bills for taxes, insurance, utilities, repairs and management.
Fire and safety
Fire separations, alarms, exits and any outstanding orders.
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.
MLI Select terms are set by CMHC and change from time to time. See the current CMHC MLI Select summary, and confirm details with your lender.
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.
Fourplexes for sale
The largest building still financed as residential.
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 Sixplex FAQs
Why is five units an important threshold?
Five units and up are financed as commercial properties and become eligible for CMHC multi-unit mortgage loan insurance, including MLI Select.
What is MLI Select?
A CMHC insurance program for buildings of five units and up that rewards affordability, energy efficiency and accessibility with higher loan-to-value and longer amortizations. A minimum of 50 points is required.
How do you value a sixplex?
On its income: net operating income and cap rate, based on actual rents and costs, compared with similar sales. We also show how financing affects cash flow.
Do you build new sixplexes?
Yes. Our build-to-order program builds new low-rise rental buildings for investors.
Do you help sell five and six unit buildings?
Yes. We help owners prepare an investment pro forma, evaluate value using best practices and market the building to investors.
Mitch Gauzas, REALTOR®
