$1,350,000
514 Lyon Street N, Ottawa Centre, ON K1R 5X9
6 Beds
5 Baths
3 Parking
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.

Property Summary

Property Type Residential Freehold
Property Sub Type Multiplex
Transaction Type For Sale
Style 2-Storey
Bedrooms Above Grade 6
Bathrooms 5
Basement Apartment
Exposure West
Possession TBD

Building

Building Type Multiplex
Square Footage 1500-2000
Exterior Vinyl Siding
Foundation Concrete
Roof Shingles
Heating Baseboard
Heat Source Gas
Cooling Central Air
Fireplace No

Measurements

Lot Size 66 x 33
Lot Size Units Feet
Frontage 66
Depth 33
Total Living Area 1500-2000

Land

Address 514 Lyon Street N, Ottawa Centre, ON K1R 5X9
City Ottawa Centre
Community 4103 - Ottawa Centre
County / Area Ottawa
Cross Street Lyon St N / Flora St
Sewer Sewer
Pool None
Parcel Number 041220244

Parking and Garage

Total Parking 3
Garage Spaces 0
Garage Type None
Parking Features Available

Taxes and Listing Info

List Price $1,350,000
Annual Taxes $8,688
Tax Year 2026
Status Active
Listing Date 2026-06-03T19:40:54Z
MLS Number X13236514
Local Market Insight

What Buyers Should Know About 514 Lyon Street N, Ottawa Centre, ON K1R 5X9

This editorial summary helps buyers look beyond the headline price and review the neighbourhood, transit, schools, rental demand, long-term value, and due-diligence items that often matter before booking a showing or submitting an offer.

Neighbourhood Analysis

514 Lyon Street N, Ottawa Centre, ON K1R 5X9 is positioned in 4103 - Ottawa Centre, a part of Ottawa Centre where buyers should compare the street setting, nearby amenities, daily travel routes, and surrounding housing stock. For a 2-Storey, the strongest fit often depends on whether the location supports everyday routine as well as the numbers on paper.

School And Family Considerations

Families reviewing this Multiplex should confirm school boundaries directly with the local school boards before relying on listing notes. It is also worth checking walkability to parks, childcare, recreation centres, libraries, and community facilities because these details can influence both lifestyle value and future resale demand.

Transit And Access

The location should be assessed around commute patterns, access to Lyon St N / Flora St, public transit options, parking availability, and drive times to employment areas. A property with 3 parking and practical road access can appeal to buyers who need convenience without giving up neighbourhood quality.

Investment Potential

At $1,350,000, buyers should compare recent nearby sales, days on market, condition, lot utility, and the cost of future repairs or upgrades. The property shows 6 bedrooms, 5 bathrooms, basement details marked as Apartment, and a lot size of 66 x 33, all of which can affect value.

Rental Demand

If this property is being reviewed as a rental or investment, demand should be measured by bedroom count, transit access, employment access, nearby schools, parking, and the condition of the unit or home. In Ottawa Centre, rental appeal usually improves when a property is easy to maintain and simple for tenants to live in.

Local Attractions And Amenities

Buyers should look at grocery access, restaurants, trails, parks, shopping, medical services, and weekend amenities around 4103 - Ottawa Centre. These features do not always appear in the MLS data, but they can make a major difference in how the home feels after move-in and how future buyers compare it.

Builder, Condition, And Due Diligence

For resale homes, review renovations, permits, roof and mechanical age, exterior condition, inclusions, and rental items. For condo or newer properties, review building history, maintenance fees, reserve fund information, rules, amenities, and future cost exposure. A showing and document review should confirm anything not visible in the listing.

Nearby Infrastructure

Infrastructure matters because transit improvements, road projects, schools, parks, commercial growth, and employment nodes can change how an area performs over time. For 514 Lyon Street N, Ottawa Centre, ON K1R 5X9, buyers should check municipal plans, nearby construction, zoning context, and future projects that may affect enjoyment or resale value.

This section is informational only. Buyers should verify schools, measurements, rental rules, taxes, zoning, and property condition with the appropriate professionals before making a decision.

Listing data is provided through PropTx/MLS data services and is deemed reliable but not guaranteed. Listings are subject to change without notice.