501 Lyon Street Ottawa, Ontario K1R 5X6
$1,069,900
View slideshow for some extra pics! Maximize Rents and choose your own tenants in Centretown! With a slight alteration this property can produce a 6%+ cap rate!! (based on 2100/unit) Location ++ walking distance to trendy Bank St, Parliament hill, the Glebe, Lansdowne and close to both Universities. This classic Victorian building underwent an overhaul in 2017 including a 3 storey addition making for open living spaces, and good sized bedrooms. Easy to rent! Also in 2017, fully re-wired, plumbed, many windows, etc. Each unit has it’s own balcony and laundry too. Currently used as legal duplex with one large 4 bedroom 3 BATH unit (2 storey) , and another 2 bedroom unit. Opportunity is there (including 3rd kitchen rough-in and meters) to easily convert to three units. Never a vacancy. 3 hydro meters, 3 heating systems (2017), and space for the 3rd gas meter when it's time. Excellent investment in Downtown Ottawa! (id:50886)
Property Details
| MLS® Number | 1405799 |
| Property Type | Multi-family |
| Neigbourhood | Centretown |
| ParkingSpaceTotal | 1 |
Building
| BasementDevelopment | Unfinished |
| BasementType | Full (unfinished) |
| ConstructedDate | 1907 |
| CoolingType | None |
| ExteriorFinish | Brick, Siding |
| FlooringType | Hardwood, Tile |
| FoundationType | Stone |
| HeatingFuel | Natural Gas |
| HeatingType | Forced Air |
| StoriesTotal | 3 |
| Type | Duplex |
| UtilityWater | Municipal Water |
Parking
| Open |
Land
| AccessType | Highway Access |
| Acreage | No |
| Sewer | Municipal Sewage System |
| SizeDepth | 66 Ft |
| SizeFrontage | 33 Ft |
| SizeIrregular | 33 Ft X 66 Ft |
| SizeTotalText | 33 Ft X 66 Ft |
| ZoningDescription | R4s[478] |
https://www.realtor.ca/real-estate/27270938/501-lyon-street-ottawa-centretown
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Contact us for more information
Michael Finnerty
Broker
2255 Carling Avenue, Suite 101
Ottawa, Ontario K2B 7Z5
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September 10 2024 11:11:57
Ottawa Real Estate Board
RE/MAX Hallmark Realty Group