501 Lyon Street Ottawa, Ontario K1R 5X6

$1,069,800

Triplex alteration 90% complete and prepared so you can produce a 6%+ cap rate!! Rents conservatively based on 3units @2100/unit. Tenants pay gas and hydro. All living space above grade. NO BASEMENT UNIT. This classic Victorian building underwent an overhaul in 2017 including a 3 storey addition, attic conversion, 3 separate gas furnaces, fire escapes and balconies, fully re-wired, plumbed, many windows, and separate laundry. Currently set us 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, and space for the 3rd gas meter when it's time. Tandem parking for 2 cars. Excellent investment in Downtown Ottawa! View slideshow for some extra pics! Maximize Rents and choose your own tenants in Centretown! (id:43934)

Property Details

MLS® Number	1405799
Property Type	Multi-family
Neigbourhood	Centretown
AmenitiesNearBy	Shopping
ParkingSpaceTotal	2

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
LandAmenities	Shopping
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