514 Lyon Street
Ottawa Centre, ON
- 3,000 sqft
- Investment
- 89 days on market
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.
Listing Details
- Taxes (2026)
- $8,688
- Listed
- June 3, 2026
Price History
Listing history
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Property
- Lot Size
- 66 x 33 Feet
Parking
- Garage
- None
Location & Legal
- Cross Street
- Lyon St N / Flora St
- Zoning
- R4S[478], Unassigned
- Parcel Number
- 041220244
- Possession
- Flexible
- Occupancy
- Tenant
Included
- Exclusions
- Tenants belongings
Community
Postal area K1R
- Population
- 20,343
- Private dwellings
- 12,836
- Median age
- 36
- Average household size
- 1.7
- Median household income
- $74,000
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Commercial in Ottawa Centre · last 12 months
- Median sold price
- $450,000
- Homes sold
- 368
- Median days on market
- 32
- Sale-to-list price
- 97.1%
Based on 368 recorded sales of commercial properties in Ottawa Centre over the last 12 months.
Listed by
EXP REALTY
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Commercial figures
- Building area
- 3,000 sq ft
- Price per sq ft
- $450.00
- Annual property tax
- $8,688
- Tax per sq ft
- $2.90
Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.
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