- Bedrooms
- 6
- Bathrooms
- 5
- Size
- 1,500–2,000sq ft
- Per sq ft
- $786at the range’s middle
- Lot
- 66 x 33 ft
- Tax a year
- $8,6882025 tax year
- Parking
- 3none
- Days on market
- Members
The brief
About 514 Lyon St
514 Lyon St is a 6-bedroom, 5-bathroom multiplex in Ottawa Centre, Ottawa, listed for sale at an asking price of $1,375,000 (MLS® X13844228).
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.
Insights
Condition Score
Good73/1001 documented update signal
Source: Listing age, structured features and disclosed update language; not an inspection.
Cashflow Quality
Shortfall27/100−$2,297/mo against the cost of owning (20% down, 4.8%, 25 yrs)
Source: Median of 13 homes with 6 bedrooms for lease in Ottawa right now. Cost of owning counts the mortgage and property tax.
Condition uses listing-record signals, not an inspection.
The home
Key facts
- Tax
- $8,688 / 2025
- MLS® number
- X13844228
- Board
- TRREB MLS®
- Property Type
- Multiplex
- Days on market
- Size
- 1500-2000 sqft
- Lot Size
- 66 x 33 ft
- Listed on
- Parking
- None, 3 Parking
Property details
Property
- Property Type
- Multiplex
- Style
- 2-Storey
- Community
- Ottawa Centre
- Municipality
- Ottawa
Building
- Size
- 1500-2000 sqft
- Construction
- Vinyl Siding
Inside
- Bedrooms
- 6
- Bathrooms
- 5
- Bathroom Details
- 5 × 3pc
- Basement Type
- Apartment
- Kitchens
- 5
Parking
- Driveway
- Available
- Garage Type
- None
- Additional Parking
- 3
- Total Parking
- 3
Utilities
- Water
- Municipal
- Cooling
- Central Air
- Heating Type
- Baseboard
Land
- Sewer
- Sewers
- Frontage
- 66 ft
- Depth
- 33 ft
- Lot Size
- 66 x 33 ft
Additional
- Foundation
- Concrete
- Roof
- Shingles
- Fireplace
- No
- Pool
- None
- Den
- No
- Family room
- No
Rooms
Room details unavailable
The listing source did not provide room-level measurements or features.
Listing history
Buy/sell history for 514 Lyon St, Ottawa, Ontario
Sale history on this site covers the last 2 years, the window permitted under the TRREB MLS® VOW agreement.
| Date Start | Date End | List Price | Price | Event | Listing ID |
|---|---|---|---|---|---|
| Date StartN/A | N/A | $1,375,000 | N/A | For Sale | X13844228 |
Members see the full history. Prices are hidden from signed-out visitors.
The numbers
Mortgage Calculator
Plan with the current asking price
CMHC insurance: not required at 20% down. Payments use Canadian semi-annual compounding.
Mortgage Details
4.8% · 5-year term · 25-year amortization · 20% down
- Total down payment
- $275,000
- Total mortgage amount
- $1,100,000
- Total interest payment
- $781,900
- Total purchase cost
- $2,156,900
- Mortgage payment
- $6,273/mo
Cash Flow Analysis
If you rented this home out at 20% down
Break-even down payment
49%Monthly carrying cost
$6,997- Rent $4,700
- Shortfall $2,297
Rental income opens at $4,700, the median asking rent of 13 comparable homes for lease in Ottawa. Type over it with the rent you expect. This is a planning tool, not advice.
Land transfer tax on this home
- Ontario land transfer tax
- $23,975
- Total land transfer tax
- $23,975
- First-time buyer rebates (Ontario up to $4,000)
- −$4,000
- Total for first-time buyers
- $19,975
See how this is worked out
- 0.5% on the first $55,000
- $275
- 1.0% from $55,000 to $250,000
- $1,950
- 1.5% from $250,000 to $400,000
- $2,250
- 2.0% from $400,000 to $1,375,000
- $19,500
- Ontario total
- $23,975
An estimate at the asking price, for a home with one or two single-family residences. Your lawyer confirms the exact amount.
Estimate
Estimated value requires sign in
Market estimates use sold comparables and are available after you sign in and accept MLS® VOW terms.
The estimate is an automated value built from public and MLS® data. It is not an appraisal; ask Kassaundra Dobson, Broker of Record for a full comparative market analysis.
Comparable sales
Comparable sales require sign in
Closing prices and sold comps are available to registered visitors who accept MLS® VOW terms on this site.
The land
Lot
- Lot area
- 2,178 sq ft202 m²
- Street frontage
- 66 ft20.1 m
- Depth
- 33 ft10.1 m
The area is the frontage multiplied by the depth, so boundaries are approximate. Confirm with a survey before you buy.
Source: the MLS® listing record, measured by MPAC.
Land and environment
Public records about this location. Not part of the MLS® listing and not provided by the listing brokerage.
Water and conservation5
- Not in Rideau Valley Conservation Authority’s mapped regulated areaAt the address
- Not in the municipality’s mapped flood areaAt the address
- No mapped wetland within 120 m120 m
- No water-supply well recorded within 250 m43 test or monitoring holes also recorded.250 m
- Groundwater recorded about 3.8 m below ground nearbyThe middle water level in the well records within 500 m (200 records). It changes with the season and from spot to spot.500 m
Rideau Valley Conservation Authority · Municipal flood mapping · Province of Ontario open data
Planning and building activity2
- Outside the Greenbelt, Oak Ridges Moraine and Niagara Escarpment plan areasAt the address
- Nearest airport: 6.6 km6.6 km
Province of Ontario open data
Around the home2
- Transit stop within 400 mFrom the transit agency’s published stop map; the nearest is 170 m away. Routes and stops change; check the agency’s schedule.400 m
- A trail on the Ontario trail network within 1 km1 km
Municipal transit open data · Province of Ontario open data
Environmental records4
- No licensed pit or quarry within 2 km2 km
- No recorded oil, gas or salt well within 250 m250 m
- No facility within 1 km reports pollutant releases to Environment CanadaThe nearest is Public Works and Government Services Canada — Cliff Central Heating and Cooling Plant, 1.6 km away. Only facilities above the inventory’s reporting thresholds are listed.1 km
- 1 federal contaminated site within 1 km1 still active or suspected; the rest are closed. The federal inventory covers federal land only, not provincial or private sites.1 km
Province of Ontario open data · Government of Canada open data
Power and internet3
- Electricity is distributed here by Hydro Ottawa LimitedAt the address
- Wired internet 50/10 Mbps or faster is listed at this locationFixed wireless 50/10 Mbps or faster. LTE mobile coverage listed. ISED’s National Broadband Data at the nearest household point (20 m from the listing); 50/10 Mbps is its top category and includes faster plans. Confirm with a provider for this address.At the address
- Across the surrounding area: fibre to the home, cable, DSL internet listedFibre to the home: Beanfield Metroconnect, Bell, FibreStream, Rogers. Cable: Rogers. DSL: Bell. Fixed wireless: OmniTEC Wireless, PioneerWireless, Rogers, Storm Internet, Xplore. Mobile: Bell, Rogers, Telus, Vidéotron. Satellite: Xplore. ISED’s list for the surrounding ~25 km² area; check with a provider for this address.Area-wide
Ontario Energy Board · Innovation, Science and Economic Development Canada
Each record is placed at the distance its own line states. None of it is an inspection of the property. Confirm anything that matters to you with the municipality, Rideau Valley Conservation Authorityor the record’s publisher.
Contains information licensed under the Open Government Licence – Canada. Contains information licensed under the Open Government Licence – City of Ottawa. Contains information licensed under the Open Government Licence – Ontario.
The market
Multiplexes for sale in Ottawa Centre right now
- For sale now
- 7
- Median asking price
- $1.38M
- New in 7 days
- 0
- Price cuts
- 0%
Middle half: $1.3M to $1.56M
0 in 28 days
0 listings
This home is asking at the median.
See all homes in Ottawa CentreAsking prices and counts of the MLS® listings on this site as of today. Asking figures only, never sold or leased prices.
Market area · filters apply to the charts below
The street
Map and tour
Transit nearby
| Station | Lines | Distance |
|---|---|---|
| Lyon | OC Transpo light rail: O-Train Line 1 | 1.2 km |
| Pimisi | OC Transpo light rail: O-Train Line 1 | 1.3 km |
| Corso Italia | OC Transpo light rail: O-Train Line 2 | 1.4 km |
| Parliament | OC Transpo light rail: O-Train Line 1 | 1.4 km |
| Smyth | OC Transpo bus rapid transit: Transitway | 2.5 km |
The nearest subway, light rail, train, bus rapid transit stations 5 km, as the crow flies. Source: OC Transpo schedule data (GTFS) from the City of Ottawa under the Open Government Licence – City of Ottawa, downloaded October 18, 2026. Contains information licensed under the Open Government Licence – City of Ottawa.
Schools nearby
| Elementary | Type | Distance | EQAO average 2024–25 |
|---|---|---|---|
| Cambridge Street Community Public SchoolOttawa-Carleton DSB | Public · grades JK–6 · French Immersion | 700 m | 54%Grade 6 average |
| Centennial Public SchoolOttawa-Carleton DSB | Public · grades JK–8 · French Immersion | 900 m | 64%Grade 6 average |
| St Anthony Elementary SchoolOttawa Catholic School Board | Catholic · grades JK–6 · French Immersion | 950 m | 86%Grade 3 average |
| École élémentaire catholique Coeur d'OttawaConseil des écoles catholiques du Centre-Est | French-language Catholic · grades JK–8 | 1.4 km | 100%Grade 6 average |
| Secondary | Type | Distance | Grade 9 math 2024–25 |
|---|---|---|---|
| Richard Pfaff Secondary Alternate SiteOttawa-Carleton DSB | Public · grades 9–12 · French Immersion | 450 m | — |
| Glebe Collegiate InstituteOttawa-Carleton DSB | Public · grades 9–12 · French Immersion | 800 m | 74%Grade 9 math |
| École secondaire catholique Saint-Jean-BaptisteConseil des écoles catholiques du Centre-Est | French-language Catholic · grades 9–12 | 1 km | — |
| Immaculata High SchoolOttawa Catholic School Board | Catholic · grades 9–12 · French Immersion | 1.3 km | 55%Grade 9 math |
EQAO: share of students at or above the provincial standard, 2024–25 (Ontario open data). These are the schools nearest this home, not the schools it is assigned to: boundaries change, and some schools take students by application. Confirm with the board before you buy. Contains information licensed under the Open Government Licence – Ontario.
The verdict
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Recently sold nearby
Sold prices in Ottawa Centre are shown to signed-in members.