Added 1 week ago
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Type: Duplex
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Style: 3-Storey
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Size: 2500 sqft
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Lot Size: 33 x 66 Feet
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Age: 100+ years
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Taxes: $5,408 per year
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Days on Site: 1 Days
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Added: Feb 24, 2025 (1 week ago)
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Updated:
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Last Checked: 1 hour ago
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MLS®#: X11986175
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Listed By: Royal lepage team realty
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!
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Property
Status: Sale
Property Type: Duplex
Style: 3-Storey
Size (sq ft): 2500
Age: 100+
Area: Ottawa Centre
Community: 4103 - Ottawa Centre
Availability Date: Vacant possess
Inside
Bedrooms: 6
Bathrooms: 4
Kitchens: 2
Rooms: 25
Den/Family Room: Yes
Air Conditioning: None
Fireplace: No
Central Vacuum: N
Washrooms: 4
Utilities
Electricity: Yes
Gas: Yes
Cable: Yes
Telephone: Available
Building
Basement: Full
Basement 2: Part Fin
Heat Type: Forced Air
Heat Source: Gas
Exterior: Brick
Exterior: Metal/Side
Water Supply: Municipal
Special Designation: Unknown
Parking
Garage Type: None
Covered Parking Spaces: 2
Total Parking Spaces: 2
Fees
Tax Year: 2024
Tax Legal Description: PT LT 28, PL 30 , N/S FLORA STREET, AS IN N496071 ; OTTAWA/NEPEA
Taxes: $5,408
Land
Cross Street: Lyon and McLeod
Municipality District: Ottawa Centre
Fronting On: West
Parcel Number: 041220095
Pool: None
Sewer: Sewers
Lot Depth: 66 Feet
Lot Frontage: 33 Feet
Zoning: R4UB
Additional Media
- Virtual Tour: https://youtu.be/7EbLP30OV6k
Rooms
Room details for 501 Lyon Street North, Ottawa Centre
| Type | Dimensions | Description |
|---|---|---|
| Workshop Bsmt | 5.76 x 8.73 | |
| Living Main | 5.44 x 3.77 | |
| Kitchen Main | 2.79 x 3.88 | |
| Br Main | 3.18 x 3.59 | |
| Br Main | 4.05 x 3.14 | |
| Living 2nd | 4.01 x 2.99 | |
| Kitchen 2nd | 3.05 x 3.36 | |
| Br 2nd | 3.41 x 3.25 | |
| Br 2nd | 4.00 x 2.97 | |
| Great Rm 3rd | 5.12 x 4.91 | |
| Br 3rd | 5.02 x 4.42 | |
| Br 3rd | 3.60 x 3.34 |
Walker's Paradise
- Daily errands do not require a car.
Excellent Transit
- Most errands can be accomplished by public transportation.
Biker's Paradise
- Daily errands do not require a car.
Cambridge Street Community Public School
Elementary: PublicCentennial Public School
Elementary: PublicCorpus Christi Catholic Elementary School
Elementary: CatholicElgin Street Public School
Elementary: PublicGlashan Public School
Elementary: PublicMutchmor Public School
Elementary: PublicUrban Aboriginal Alternate High School
Secondary: PublicRichard Pfaff Secondary Alternate Site
Secondary: PublicImmaculata High School
Secondary: CatholicLisgar Collegiate Institute
Secondary: PublicAdult High School
Secondary: PublicGlebe Collegiate Institute
Secondary: Public-
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