Welcome to 84 Second Ave, an exceptional blue chip investment opportunity in the heart of The Glebe, one of Ottawa's most prestigious and sought-after neighbourhoods. Just steps to shops, restaurants, and the Rideau Canal, this charming and extensively renovated property with legal secondary dwelling blends timeless character with modern upgrades. Featuring impressive 9' ceilings on the first and second floors and a gabled ceiling on the third level, the property offers two well-appointed units. The main floor unit features 2 bedrooms, 1 full bathroom, ensuite laundry, basement access, a large deck, and a private fenced yard. The expansive upper unit spans the second and third floors and offers 4 bedrooms plus a den, 2 full bathrooms, and ensuite laundry. Significant recent updates include a re-pointed and parged foundation, updated plumbing and electrical, new drywall, renovated kitchen and bathrooms, furnace (2019), roof (2026), and conversion to separate hydro metering (2010). Main floor unit currently tenanted on a month-to-month basis at $2,100/month. The upper 4-bedroom unit was previously rented for $4,100/month. This versatile property offers a potential CAP rate of 5.5% and could also be converted back into a stunning single-family home or accommodate multigenerational living. No conveyance of offers without 48 hours irrevocable.