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501 LYON STREET
Ottawa, Ontario K1R5X6

$1,069,900

ID# 1405799
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 3units @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:25961)
Courtesy of RE/MAX HALLMARK REALTY GROUP

Listed on: August 08, 2024

On market: 42 days
Year Built 1907
Cooling Type None
Flooring Type Hardwood, Tile
Heating Type Forced air
Heating Fuel Natural gas
Stories Total 3
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