Edin Taravati
Sales Representative
Homelife Landmark Realty Inc, Brokerage
Independently owned and operated.
7240 Woodbine, Markham, Ontario L3R 1A4
Cell: 647-233-7778Office: 905-305-1600
$1,019,888
Available - For Sale
Listing ID: X11986175
501 Lyon Stre North , Ottawa Centre, K1R 5X6, Ottawa
| 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! |
| Price | $1,019,888 |
| Taxes: | $5408.00 |
| Occupancy: | Vacant |
| Address: | 501 Lyon Stre North , Ottawa Centre, K1R 5X6, Ottawa |
| Directions/Cross Streets: | Lyon and McLeod |
| Rooms: | 25 |
| Rooms +: | 0 |
| Bedrooms: | 6 |
| Bedrooms +: | 0 |
| Family Room: | T |
| Basement: | Partially Fi, Full |
| Level/Floor | Room | Length(ft) | Width(ft) | Descriptions | |
| Room 1 | Basement | Workshop | 28.63 | 18.89 | |
| Room 2 | Main | Living Ro | 12.37 | 17.84 | |
| Room 3 | Main | Kitchen | 12.73 | 9.15 | |
| Room 4 | Main | Bedroom | 11.78 | 10.43 | |
| Room 5 | Main | Bedroom | 10.3 | 13.28 | |
| Room 6 | Second | Living Ro | 9.81 | 13.15 | |
| Room 7 | Second | Kitchen | 11.02 | 10 | |
| Room 8 | Second | Bedroom | 10.66 | 11.18 | |
| Room 9 | Second | Bedroom | 9.74 | 13.12 | |
| Room 10 | Third | Great Roo | 16.1 | 16.79 | |
| Room 11 | Third | Bedroom | 14.5 | 16.47 | |
| Room 12 | Third | Bedroom | 10.96 | 11.81 | |
| Room 13 | Main | 4.49 | 13.19 | Balcony | |
| Room 14 | Second | 4.49 | 13.19 | Balcony | |
| Room 15 | Second | 5.18 | 7.51 | Balcony |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 3 | Main |
| Washroom Type 2 | 3 | Second |
| Washroom Type 3 | 3 | Third |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Total Area: | 0.00 |
| Approximatly Age: | 100+ |
| Property Type: | Duplex |
| Style: | 3-Storey |
| Exterior: | Brick, Metal/Steel Sidi |
| Garage Type: | None |
| Drive Parking Spaces: | 2 |
| Pool: | None |
| Approximatly Age: | 100+ |
| Approximatly Square Footage: | 2000-2500 |
| CAC Included: | N |
| Water Included: | N |
| Cabel TV Included: | N |
| Common Elements Included: | N |
| Heat Included: | N |
| Parking Included: | N |
| Condo Tax Included: | N |
| Building Insurance Included: | N |
| Fireplace/Stove: | N |
| Heat Type: | Forced Air |
| Central Air Conditioning: | None |
| Central Vac: | N |
| Laundry Level: | Syste |
| Ensuite Laundry: | F |
| Sewers: | Sewer |
| Utilities-Cable: | Y |
| Utilities-Hydro: | Y |
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| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| ROYAL LEPAGE TEAM REALTY |
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Edin Taravati
Sales Representative
Dir:
647-233-7778
Bus:
905-305-1600
| Virtual Tour | Book Showing | Email a Friend |
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At a Glance:
| Type: | Freehold - Duplex |
| Area: | Ottawa |
| Municipality: | Ottawa Centre |
| Neighbourhood: | 4103 - Ottawa Centre |
| Style: | 3-Storey |
| Approximate Age: | 100+ |
| Tax: | $5,408 |
| Beds: | 6 |
| Baths: | 4 |
| Fireplace: | N |
| Pool: | None |
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