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473 Vernon Avenue, Ottawa, ON 38 photos

$829,000

Active
473 Vernon Avenue, Ottawa, ON· Castle Heights
3+2
Bedrooms
3
Bathrooms
700-1100
Sq Ft
6 (None)
Parking

About this Property

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.

Listed by SLEEPWELL REALTY GROUP LTD · MLS# X13050852

Features & Details

Property details of 473 Vernon Avenue, Ottawa, ON

Property TypeTriplex
StyleBungalow-Raised
Size700-1100 sq ft
BasementApartment, Finished
Total Parking6

Mortgage Calculator

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%
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Mortgage Payment$4,073/monthly
Principal54%
Interest46%
Principal Amount$663,200
Interest$558,588
Total Payable$1,221,788
Amortization25 years

* Estimate only. Consult a mortgage broker for accurate figures.

Cash Flow Analysis

Mortgage payment$4,073
Mortgage + Expenses$4,073
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$
$
$
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Monthly Cash Flow-$4,073

* Estimate only. Consult a mortgage broker for accurate figures.

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Akash Sharma

Akash Sharma

REALTOR® · Ali Realty Group Inc.

Ottawa's trusted real estate partner with 170+ successful transactions and $30M+ in sales.

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