A prime investment opportunity in Centretown with a 5.5% cap rate or an opportunity as a owner occupied investment, 176 Arlington Avenue is a spacious duplex featuring two well-designed units, each with its own laundry. Unit A is vacant and Unit B is month to month. Located just two blocks from Bank St., Unit A is a vacant, fully renovated 2 + 1 bedroom apartment spanning the main and lower floors, offering a private entrance, charming finishes, and an efficient layout. The living room includes a large picture window, and the eat-in kitchen is equipped with extended cabinets, ample counter space, and a stainless steel sink. Two bright bedrooms, one with private outdoor access, provide versatility for families, work-from-home setups, or additional living space. A full bathroom on the main level, along with a basement that has laundry, a powder room, and storage, completes this inviting unit. Unit B is tenanted, occupies the second and third floors, and features a uniquely separated, thoughtful layout. The first floor includes three bedrooms, one with a built-in desk nook and another with direct access to a front balcony. The living area, with wide-plank vinyl flooring, adjoins a modern kitchen with wood cabinets, a hex tile backsplash, and plenty of prep space. Before ascending to the top level, you'll find a stylish 3-piece bathroom with a walk-in shower. The top floor has two cozy bedrooms with sloped ceilings, parquet-style flooring, and generous closet space, along with a second 4-piece bath for added convenience. The property sits on a deep lot with mature trees and greenery. Each unit has private entrances and well-defined spaces, making it ideal for multi-tenant rentals or live-in owners seeking extra income. Located close to transit, cafes, parks, and the upcoming redevelopment of the old Greyhound station, this property represents a solid investment in a rapidly densifying area poised for long-term growth in one of Ottawa's most vibrant neighbourhoods.