$1,350,000
Available - For Sale
Listing ID: X13236514
514 Lyon Street North , Ottawa Centre, K1R 5X9, Ottawa
| 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. |
| Price | $1,350,000 |
| Taxes: | $8688.00 |
| Assessment Year: | 2025 |
| Occupancy: | Tenant |
| Address: | 514 Lyon Street North , Ottawa Centre, K1R 5X9, Ottawa |
| Directions/Cross Streets: | Lyon St N / Flora St |
| Rooms: | 15 |
| Bedrooms: | 6 |
| Bedrooms +: | 0 |
| Family Room: | F |
| Basement: | Apartment |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 3 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 3 | |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 |
| Total Area: | 0.00 |
| Property Type: | Multiplex |
| Style: | 2-Storey |
| Exterior: | Vinyl Siding |
| Garage Type: | None |
| (Parking/)Drive: | Available |
| Drive Parking Spaces: | 3 |
| Park #1 | |
| Parking Type: | Available |
| Park #2 | |
| Parking Type: | Available |
| Pool: | None |
| Approximatly Square Footage: | 1500-2000 |
| CAC Included: | N |
| Water Included: | N |
| Cabel TV Included: | N |
| Common Elements Included: | N |
| Heat Included: | N |
| Parking Included: | N |
| Condo Tax Included: | N |
| Building Insurance Included: | N |
| Fireplace/Stove: | N |
| Heat Type: | Baseboard |
| Central Air Conditioning: | Central Air |
| Central Vac: | N |
| Laundry Level: | Syste |
| Ensuite Laundry: | F |
| Sewers: | Sewer |
| Utilities-Hydro: | Y |
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| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| EXP REALTY |
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Shawn Syed, AMP
Broker
Dir:
416-786-7848
Bus:
(416) 494-7653
Fax:
1 866 229 3159
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Freehold - Multiplex |
| Area: | Ottawa |
| Municipality: | Ottawa Centre |
| Neighbourhood: | 4103 - Ottawa Centre |
| Style: | 2-Storey |
| Tax: | $8,688 |
| Beds: | 6 |
| Baths: | 5 |
| Fireplace: | N |
| Pool: | None |
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