514 Lyon Street
Ottawa Centre, ON
- 6 bed
- 5 bath
- approx. 1500-2000 sqft
- Multiplex
- 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
- Style
- 2-Storey
- Construction
- Vinyl Siding
- Roof
- Shingles
- Foundation
- Concrete
- Interior
- Separate Hydro Meter
- Lot Size
- 66 x 33 Feet
Parking
- Garage
- None
- Covered Spaces
- 0
- Total Parking
- 3
Utilities
- Sewer
- Sewer
- Heat Source
- Gas
Location & Legal
- Cross Street
- Lyon St N / Flora St
- Zoning
- R4S[478], Unassigned
- Parcel Number
- 041220244
- Possession
- Flexible
- Occupancy
- Tenant
Included
- Exclusions
- Tenants belongings.
Schools
Elementary
- Glashan Public School0.3 km
Public · Ottawa-Carleton DSB · 315 students
- Richard Pfaff Intermediate School0.4 km
Public · Ottawa-Carleton DSB
- Cambridge Street Community Public School0.7 km
Public · Ottawa-Carleton DSB · 95 students
Grade 6 math: 23% met the provincial standard
Secondary
- Richard Pfaff Secondary Alternate Site0.4 km
Public · Ottawa-Carleton DSB · 225 students
- Glebe Collegiate Institute0.8 km
Public · Ottawa-Carleton DSB · 1315 students
Grade 10 literacy: 93% met the provincial standard
- École secondaire catholique Saint-Jean-Baptiste1 km
French Catholic · CSDC du Centre-Est de l'Ontario
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
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
Residential Freehold in Ottawa Centre · last 12 months
- Median sold price
- $450,000
- Homes sold
- 371
- Median days on market
- 33
- Sale-to-list price
- 97.1%
Based on 371 recorded sales of residential freehold properties in Ottawa Centre over the last 12 months.
Listed by
EXP REALTY
Walk Score
Walk
Transit
Bike
Scores by Walk Score®
Location
Street View
Mortgage Calculator
$270,000
Estimated Monthly Payment
$6,632
Land transfer tax
Ontario land transfer tax only. An estimate — not legal or financial advice. Municipal land transfer tax applies in Toronto and is not included.
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $6,632/mo (20% down, 5.5%)
Taxes: $724/mo · Insurance: $338/mo
Estimates only. Consult a financial advisor.
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