Mirna Botros
613-600-2626514 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, OntarioMap
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