514 Lyon Street N, Ottawa Centre, ON K1R 5X9
4103 - Ottawa Centre, Ottawa Centre · Near Lyon St N / Flora St · View map
About this home
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 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. An option for a second position VTB is also available. 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.
The home
- Type
- Investment
- Square footage
- 3000 sq ft
- Lot size
- 66 x 33 ft
Ownership & fees
- Ownership
- Freehold
- Monthly condo fee
- None
Heating & cooling
- Heating type
- Gas Forced Air Closed
- Air conditioning
- Yes
Garage & parking
- Driveway spaces
- 3
- Total parking
- 3
Taxes & other
- Property taxes
- $8,688/yr
- Tax year
- 2025
- Occupancy
- Tenant
- Possession
- TBD
- Cross street
- Lyon St N / Flora St
- Neighbourhood
- 4103 - Ottawa Centre
More
- MLS® number
- X13843756
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No features listed yet.
- Mortgage
- Property tax
- Maintenance fee
Cash needed to close
Estimates only, using Canadian semi-annual compounding, Ontario land transfer tax. Mortgage default insurance is added when you put down less than 20%. Your lender and lawyer will confirm exact numbers.
514 Lyon Street, Ottawa Centre, ON K1R 5X9
4103 - Ottawa Centre, Ottawa Centre · Near Lyon St N / Flora St
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Listing history for 514 Lyon Street
See what this home and others at the same address were listed for, what they sold for, and how long it took.
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Frequently asked questions about 514 Lyon Street N
Answers come straight from this home’s MLS® listing.
How much is 514 Lyon Street N listed for, and what would it cost each month?
514 Lyon Street N is listed for $1,375,000. With 20% down ($275,000), the mortgage payment would be roughly $5,546 a month at 4.5% over 30 years. Add property tax and the estimate comes to about $6,270 a month, all in. That figure is an illustration, not a quote.
Is 514 Lyon Street N freehold or a condo, and is there a monthly fee?
514 Lyon Street N is a investment in 4103 - Ottawa Centre, Ottawa Centre. Ownership is freehold: you own the home and the lot. There is no monthly condo fee, so the roof, windows, driveway, snow and lawn are yours to look after.
Does 514 Lyon Street N have a garage and parking?
The listing does not show a garage. The driveway adds 3 spaces. In total the listing counts 3 parking spaces.
What style of home is 514 Lyon Street N?
514 Lyon Street N is an investment. Commercial property covers retail, office, industrial and investment buildings and businesses for sale or lease.
How big is 514 Lyon Street N, and what is the lot size?
The lot is listed as 66 x 33 ft.
How is 514 Lyon Street N heated and cooled?
Heating is gas forced air closed. Cooling is yes.
What are the property taxes for 514 Lyon Street N?
Property taxes are $8,688 a year (2025), or about $724 a month.
Where is 514 Lyon Street N?
514 Lyon Street N is in the 4103 - Ottawa Centre community of Ottawa Centre. The nearest main intersection is Lyon St N / Flora St. The postal code is K1R 5X9.
Is 514 Lyon Street N still for sale?
Yes. It is an active listing (MLS® X13843756). Listings here update from the board through the day and come down once a home sells.
What are similar properties near 514 Lyon Street N asking?
Similar properties for sale nearby right now include 514 Lyon Street N at $1,375,000 (6 bed), 548 Maclaren Street at $1,475,000 and 511 Bank Street at $1,269,000. These are asking prices, not sold prices. The Sold history tab shows what homes at this address went for.
What have homes at 514 Lyon Street sold for?
Recent sales, leases and expired listings for this home and others at the same address are in the Sold history tab, with the price and date of each. It is free for members.
How do I book a showing at 514 Lyon Street N?
Pick a day and time with Book a Tour on this page. Tours are free, with no obligation, in person or by video. You can also call or text 647-931-3923.
Have a different question? Ask about this home and get an answer, usually within the hour.
Similar properties nearby
More properties for sale near 4103 - Ottawa Centre, picked by style, size and price.
Multiplex$1,375,000514 Lyon Street N, Ottawa Centre6 bed · 5 bath · 4103 - Ottawa CentreCourtesy of: EXP REALTYView home →
Investment$1,475,000548 Maclaren Street, Ottawa Centre4103 - Ottawa CentreCourtesy of: ROYAL LEPAGE TEAM REALTYView home →
Investment$1,269,000511 Bank Street, Ottawa Centre4103 - Ottawa CentreCourtesy of: EXP REALTYView home →Courtesy of: EXP REALTY
Listing information comes from the Toronto Regional Real Estate Board through PropTx and is deemed reliable but is not guaranteed accurate. It is provided for consumers' personal, non-commercial use. 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.
*Estimated monthly cost assumes 20% down, a 4.5% rate and a 30-year amortization, plus property tax. For illustration only.