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$ 1,069,800
Est. payment /mo
Active
501 LYON ST Ottawa, ON K1R 5X6
UPDATED:
Key Details
Property Type Other Types
Sub Type Multifamily
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1405799
Year Built 1907
Annual Tax Amount $5,408
Tax Year 2024
Property Sub-Type Multifamily
Property Description
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!
Location
Province ON
Rooms
Basement Full
Interior
Heating Natural Gas
Flooring Hardwood, Tile
Exterior
Parking Features Open
Roof Type Asphalt Shingle
Building
Dwelling Type Duplex - Up&Down
Story 3
Foundation Stone
Sewer Sewer Connected
Water Municipal
Structure Type Brick,Metal,Siding
Listed by RE/MAX HALLMARK REALTY GROUP