Mirna Botros

613-600-2626

514 Lyon Street - $1,350,000

514 Lyon Street - $1,350,000

514 Lyon Street

$1,350,000

4103 - Ottawa Centre
Ottawa, OntarioK1R5X9
6 beds
5 baths
3 parking
MLS#: X13236514Listed: about 2 hours agoUpdated:about 2 hours ago

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. (id:58075)

Details

Details for 514 Lyon Street, Ottawa, Ontario
Property Type
Multi Family
Building Type
Other
Storeys
2
Neighborhood
4103 - Ottawa Centre
Land Size
66 x 33 FT
Year Built
-
Annual Property Taxes
$8,688
Parking Type
No Garage
Inside
Appliances
-
Rooms
-
Bedrooms
6
Bathrooms
5
Fireplace
-
Fireplace Total
-
Basement
Apartment in basement, N/A
Building
Architecture Style
-
Direction
Cross Streets: Lyon St N / Flora St. ** Directions: From Hwy 417, exit at Bronson Ave, head north, turn right onto Gladstone Ave, then left onto Lyon St N. Property is on the right at 514 Lyon St N.
Type of Dwelling
other
Roof
-
Exterior
Vinyl siding
Foundation
Concrete
Flooring
-
Land
Sewer
Sanitary sewer
Lot Size
66 x 33 FT
Zoning
-
Zoning Description
R4S[478], Unassigned
Parking
Features
No Garage
Total Parking
3
Utilities
Cooling
Central air conditioning
Heating
Baseboard heaters, Forced air, Natural gas
Water
Municipal water
Feature Highlights
Community
-
Lot Features
-
Security
-
Pool
-
Waterfront
-

Rooms

Rooms for 514 Lyon Street, Ottawa, Ontario
LevelNameDimensions
Mirna Botros

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