50
$1,375,000 Sale
Listed 13 days ago
514 LYON STREET N
· 0
· 0.0
· 3
· 3000
Key Facts
Key facts for 514 LYON STREET N
Property Type
Apartment
Parking
Garage: No, 3 parking
MLS #
X13843756
Size
3000 sqft
Basement
-
Listed on
-
Lot size
-
Tax
-
Days on Market
-
Year Built
-
Maintenance Fee
-
Description
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 $89,760 in gross annual income at a 5.3% cap rate, this well-maintained asset offers investors a rare opportunit...y 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. An option for a second position VTB is also available; contact the listing agent for details. The property has undergone extensive recent upgrades, including fully renovated units throughout, new windows (2023), and a new furnace and hot water tank (2023). With all major capital improvements completed, 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 includes 3 parking spaces across two driveways. The building is fully tenanted and stabilized, providing reliable, in-place cash flow from day one and a secure, low-risk investment for the new owner. This is an exceptional opportunity to acquire a stabilized multi-residential asset with strong income, attractive financing options, and significant recent improvements in one of Ottawa's premier rental neighbourhoods. (id:10452)
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Listing courtesy of: EXP REALTY
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