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
- Multiplex
- Style
- 2-Storey
- Square footage
- 1500-2000 sq ft
- Bedrooms
- 6
- Bathrooms
- 5
- Kitchens
- 5
- Rooms
- 15
- Basement
- Apartment
- Lot size
- 66 x 33 ft
- Faces
- West
Ownership & fees
- Ownership
- Freehold
- Monthly condo fee
- None
- Exterior
- Vinyl Siding
Heating & cooling
- Heating fuel
- Gas
- Heating type
- Baseboard
- Air conditioning
- Central Air
- Fireplace
- No
Garage & parking
- Driveway spaces
- 3
- Total parking
- 3
- Parking features
- Available
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
- Price per sq ft
- ~$786 (at 1,750 sq ft)
- MLS® number
- X13844228
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The home and its surroundings
- Separate Hydro Meter
- 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 multiplex 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.
How many bedrooms and bathrooms does 514 Lyon Street N have?
514 Lyon Street N has 6 bedrooms and 5 bathrooms. The listing gives the style as 2-storey.
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.
Does 514 Lyon Street N have a finished basement?
The listing describes the basement as apartment. A listing description is not proof of a legal second unit, so confirm zoning and permits with the municipality before counting on rental income.
What style of home is 514 Lyon Street N?
514 Lyon Street N is a multiplex. A multiplex holds two or more separate units under one roof, often bought to live in one unit and rent the others.
How big is 514 Lyon Street N, and what is the lot size?
The listing puts the home between 1,500 and 2,000 sq ft. The board reports a range rather than an exact figure, and it usually leaves out the basement. The lot is listed as 66 x 33 ft.
How is 514 Lyon Street N heated and cooled?
Heating is baseboard (gas). Cooling is central air.
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® X13844228). 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, 277 Arlington Avenue at $1,159,800 (6 bed) and 451 & 453 - 453 Catherine Street N at $1,099,000 (6 bed). 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.
Investment$1,375,000514 Lyon Street N, Ottawa Centre4103 - Ottawa CentreCourtesy of: EXP REALTYView home →
Triplex$1,159,800277 Arlington Avenue, Ottawa Centre6 bed · 4 bath · 4103 - Ottawa CentreCourtesy of: COLDWELL BANKER FIRST OTTAWA REALTYView home →
Triplex$1,099,000451 & 453 - 453 Catherine Street N, Ottawa Centre6 bed · 3 bath · 4103 - 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.