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$798,500
ActiveAbout 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 $48,192 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
Market Insights for Triplex in Ottawa
Based on 17 sales in the last 90 days · Showing city-wide data
Buyer’s Market
Properties are sitting longer (avg 49 days). Buyers have more negotiating power and time to decide.
New Listings
17
Avg Days on Market
49 days
Avg Price/Sq Ft
$414
Location
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Cash Flow Analysis
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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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