Well-maintained triplex on an oversized lot with over 84 ft of frontage, offering a rare opportunity to blend immediate cash flow, owner-occupancy potential, and long-term redevelopment upside. The property generates $47,568 annually with a net operating income of $31,582, featuring a spacious upper-level 3-bedroom unit ideal for an owner-occupant, complemented by two lower-level studio apartments to help offset carrying costs. Unit 1 and Unit 2 are currently on month-to-month leases, while Unit 3 is leased until July 31, 2026. This property has been meticulously maintained by long-term ownership, with clear pride of care throughout and very little deferred maintenance, allowing a new owner to step in and operate with confidence and minimal immediate capital requirements. Major capital improvements include a new roof (2014), driveway expansion and repaving, landscaping and regrading, masonry repairs, and a PVC privacy fence. For investors, this is a balanced asset with solid in-place income and clear upside. For end users, it presents a unique opportunity to live in a larger unit while generating meaningful rental income. The 84 ft frontage further enhances the property with strong future potential for redevelopment, severance, or expansion, making this a versatile acquisition in a market where opportunities like this are increasingly rare. (id:4069)
Address
473 VERNON AVENUE
List Price
$829,000
Property Type
Multi-family
Style of Home
Raised bungalow
Transaction Type
Sale
Area
Ontario
Sub-Area
Ottawa
Bedrooms
5
Bathrooms
3
Floor Area
700 - 1100 Sq. Ft.
Lot Size
84.9 x 61.4 FT Sq. Ft.
MLS® Number
X13050852
Listing Brokerage
SLEEPWELL REALTY GROUP LTD
Basement Area
N/A, N/A (Finished)
Postal Code
K1K1A8
Features
Carpet Free
Amenities
Separate Electricity Meters
