498 Gladstone Avenue
Ottawa Centre, ON
- 4 bed
- 2 bath
- approx. 1500-2000 sqft
- Duplex
- 60 days on market
Positioned on a high-visibility corner in the heart of downtown Ottawa, this fully vacant duplex offers a rare & flexible opportunity in one of the city's most connected, walkable & rapidly evolving neighbourhoods. Featuring two 2-bed units, along with four on-site parking spaces, the property provides immediate options for investors, developers, or owner-occupiers, with strong potential for redevelopment. Set on a northwest-facing corner lot the property benefits from Traditional Mainstreet zoning [TM14 H(17)], allowing for a variety of residential or mixed-use possibilities. This zoning supports everything from low- to mid-rise residential & boutique multi-unit projects to commercial space with residential above, making it well suited for thoughtful growth in line with the City's long-term vision. Full municipal services are already in place, offering a smooth path for both current use & future plans. A rare advantage in this urban setting is the four owned off-street parking spaces with access from Lyon Street, adding everyday convenience & long-term value. The corner lot layout also allows for flexible, efficient building design & strong street presence. The location truly sets this property apart. With Walk Scores in the mid to high 90s, everyday amenities such as groceries, cafés, restaurants, parks, boutiques & essential services are just steps away. The property is well served by multiple OC Transpo routes & is moments from Lyon LRT Station, providing quick access to downtown, major employment centres & the wider city. Surrounded by ongoing & future development, this central location continues to benefit from strong demand & long-term growth. Whether you're looking for a duplex with immediate potential, a smart land holding, or a prime infill opportunity, this is a compelling chance to secure a highly visible corner property in Ottawa's urban core.
Listing Details
- Taxes (2025)
- $5,603
- Listed
- July 8, 2026
Price History
Listing history
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Property
- Style
- 2-Storey
- Age
- 100+
- Construction
- Brick
- Roof
- Asphalt Rolled
- Foundation
- Block, Stone
- Interior
- Storage
- Lot Size
- 33 x 62 Feet
Parking
- Garage
- None
- Covered Spaces
- 0
- Total Parking
- 4
Utilities
- Sewer
- Sewer
- Heat Source
- Gas
Location & Legal
- Cross Street
- Lyon Street
- Zoning
- TM14 H(17)
- Parcel Number
- 041200333
- Possession
- Flexible
- Occupancy
- Vacant
Included
- Inclusions
- All attached light fixtures; All window coverings & associated hardware; All bathroom mirrors; All attached shelving & hooks; 2 Stoves; 2 Refrigerators; Furnace; Hot water tank; All in As-is Where-is condition.
- Exclusions
- None
- Rental Items
- None
Schools
Elementary
- Glashan Public School0.4 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 Institute0.9 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
- 373
- Median days on market
- 32
- Sale-to-list price
- 97.1%
Based on 373 recorded sales of residential freehold properties in Ottawa Centre over the last 12 months.
Rooms
4-piece on Main, 4-piece on Second
Second
- Bathroom
- Bedroom18'10" x 11'6"
- Bedroom9'9" x 9'5"
- Bedroom11'3" x 10'10"
- Bedroom 29'10" x 9'6"
- Kitchen10'3" x 9'6"
- Living Room10'4" x 9'7"
Main
- Bathroom
- Kitchen13'9" x 11'2"
- Living Room16'1" x 11'2"
Listed by
ROYAL LEPAGE TEAM REALTY
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Mortgage Calculator
$163,980
Estimated Monthly Payment
$4,028
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: $4,028/mo (20% down, 5.5%)
Taxes: $467/mo · Insurance: $205/mo
Estimates only. Consult a financial advisor.
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