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$ 1,350,000
Est. payment /mo
Active
514 Lyon ST N Ottawa Centre, ON K1R 5X9
6 Beds
5 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1500-2000
Subdivision 4103 - Ottawa Centre
MLS Listing ID X13236514
Style 2-Storey
Bedrooms 6
Annual Tax Amount $8,688
Tax Year 2026
Property Sub-Type Multiplex
Property Description
Welcome to 514 Lyon St, a turn-key 5-unit investment property ideally located in the heart of Centretown, one of Ottawa's most desirable and consistently strong rental markets. Generating $97,740 in gross annual income at a 5.8% cap rate, this well-maintained asset offers investors a rare opportunity to assume approximately $1.049M in existing financing at an attractive 4.25% interest rate with a 40-year amortization until June 1, 2030, providing a significant financing advantage in today's market. The property has undergone extensive recent upgrades, including fully renovated units throughout, new windows installed in 2023, and a new furnace and hot water tank installed in 2023. With all major capital improvements completed and the remaining building components in good condition, this is a true turn-key investment requiring minimal near-term capital expenditure. Located within walking distance of downtown Ottawa, transit, shops, restaurants, government offices, and major employment centres, 514 Lyon St benefits from strong rental demand and an unbeatable urban location. The property also comes with 3 parking spaces across the two driveways on site. This is an exceptional opportunity to acquire a stabilized multi-residential asset with strong income, attractive assumable financing, and significant recent improvements in one of Ottawa's premier rental neighbourhoods. Unit B, D, and E are currently vacant (rent is projected based on prior leases) - these units can be leased prior to closing or held vacant for the purchaser.
Location
Province ON
County Ottawa
Area Ottawa
Zoning R4S[478], Unassigned
Rooms
Basement Apartment
Kitchen 5
Interior
Interior Features Separate Hydro Meter
Cooling Central Air
Exterior
Parking Features None
Pool None
Roof Type Shingles
Total Parking Spaces 3
Building
Foundation Concrete
Lited by EXP REALTY