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For sale
Duplex

501 Lyon Street N

$1,019,888
Ottawa, Ontario, K1R 5X6
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Overview

  • Updated On:
  • March 25 2025
  • MLS® Number
  • X11986175
  • 6 Bedrooms
  • 4 Bathrooms

Description

This classic 2-story Victorian underwent a complete overhaul in 2017 with a 3rd story addition on the top and a full 3-story addition on the back. Currently configured as a 6-bedroom legal DUPLEX with 2 car tandem parking, yielding $53,400 Net Operating Income. Tenants pay gas and hydro. Vacant possession available. Pick your own tenants. -- Convert to THREE UNIT PROPERTY to increase cash flow and to significantly increase the appraised value. -- The 2017 overhaul planned for an eventual conversion to THREE UNITS. All plumbing, electrical and HVAC was replaced and configured anticipating the conversion. A third kitchen/laundry is roughed in on the new 3rd level. Correct fire rated separations between floors and egress, independent forced air heating and electrical systems for each floor. As a THREE UNIT Property, the Effective Gross Income is projected at $77,000 per year. Current DUPLEX configuration: Unit 1 - Main Level: 2 bed, one 3 pc bath, eat-in kitchen, large living room, with 85 SF balcony and exclusive back yard access. Unit 2 - Second Level: Two-story, 4 bed, 3 x 3 pc baths, eat in kitchen, living room, huge family room, three balconies - a private 87 SF at the back on the second level, 40 SF on the front and another 87 SF on the back on the third level. A partly finished basement with electric rad heat offers tons of storage for the landlord. Live in and rent a unit, or great updated turnkey investment for your portfolio. Optional THREE UNIT configuration separates the two-story Second Level Unit into TWO separate units consisting of: Unit 2 - Second Level: 830 SF, 2 bed, two 3-pc baths, with eat in kitchen and living room, and Unit 3 - Third Level: 630 SF 2 bed, one 3 pc bath, with large eat in kitchen/ great room. Three Unit alteration was 90% complete during the 2017 overhaul and ready when you are. Ask your agent for list of UPDATES, DUPLEX and projected THREE UNIT Financials and Concept sheet. Come make 501 Lyon Street your new investment! (id:57887)

Details

Price:
Price Info:
Property Type: Multi-family
Building Type: Duplex
Storeys: 3
Neighbourhood: The Glebe

Features

Amenities
Separate Electricity Meters
Separate Heating Controls
Appliances
Water Heater
Water meter
Intercom
Dryer
Two stoves
Two Washers
Refrigerator
Cooling & Heating
Natural gas
Forced air
Ventilation system
ExteriorFinish
Brick
Steel
FireProtection
Smoke Detectors

Calculator

$ 5,229.17
per month
  • Principal and Interest
  • Property Tax
  • HOA fee
$ 3,954.31

Building Details

Bedroom
BedroomsAboveGround: 6
BedroomsTotal: 6
Bathroom
BathroomTotal: 4
Basement
BasementDevelopment: Partially finished
BasementType: Full (Partially finished)
Size
SizeInterior: 2499.9795 - 2999.975 sqft
Construction
Age: 100+ years
FoundationType: Concrete
Utility
UtilityWater: Municipal water

Land Details

Acreage: No
Sewer: Sanitary Sewer
SizeDepth: 66 Ft
SizeFrontage: 33 Ft
SizeIrregular: 33 X 66 Ft
SizeTotalText: 33 X 66 Ft
ZoningDescription: R4ub

Room Details

Second level
Type Dimensions
Living Room 2.99 m x 4.01 m
Kitchen 3.36 m x 3.05 m
Bedroom 3.25 m x 3.41 m
Bedroom 2.97 m x 4 m
Third level
Type Dimensions
Bedroom 4.42 m x 5.02 m
Bedroom 3.34 m x 3.6 m
Great Room 4.91 m x 5.12 m
Basement
Type Dimensions
Workshop 8.73 m x 5.76 m
Main level
Type Dimensions
Living Room 3.77 m x 5.44 m
Kitchen 3.88 m x 2.79 m
Bedroom 3.59 m x 3.18 m
Bedroom 3.14 m x 4.05 m

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March 25 2025 03:35:18

Ottawa Real Estate Board

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  • The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA.
  • The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.

The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA.

The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.

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