$829,000
Available - For Sale
Listing ID: X13050852
473 Vernon Avenue , Overbrook - Castleheights and Area, K1K 1A8, Ottawa
| 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. |
| Price | $829,000 |
| Taxes: | $6341.00 |
| Assessment Year: | 2025 |
| Occupancy: | Tenant |
| Address: | 473 Vernon Avenue , Overbrook - Castleheights and Area, K1K 1A8, Ottawa |
| Directions/Cross Streets: | Vernon & Cote |
| Rooms: | 7 |
| Rooms +: | 6 |
| Bedrooms: | 3 |
| Bedrooms +: | 2 |
| Family Room: | F |
| Basement: | Apartment, Finished |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 4 | Main |
| Washroom Type 2 | 4 | Lower |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Total Area: | 0.00 |
| Property Type: | Triplex |
| Style: | Bungalow-Raised |
| Exterior: | Brick |
| Garage Type: | None |
| (Parking/)Drive: | Private Do |
| Drive Parking Spaces: | 6 |
| Park #1 | |
| Parking Type: | Private Do |
| Park #2 | |
| Parking Type: | Private Do |
| Park #3 | |
| Parking Type: | Tandem |
| Pool: | None |
| Other Structures: | Shed |
| Approximatly Square Footage: | 700-1100 |
| 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: | Radiant |
| Central Air Conditioning: | None |
| Central Vac: | N |
| Laundry Level: | Syste |
| Ensuite Laundry: | F |
| Sewers: | Sewer |
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| SLEEPWELL REALTY GROUP LTD |
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At a Glance:
| Type: | Freehold - Triplex |
| Area: | Ottawa |
| Municipality: | Overbrook - Castleheights and Area |
| Neighbourhood: | 3503 - Castle Heights |
| Style: | Bungalow-Raised |
| Tax: | $6,341 |
| Beds: | 3+2 |
| Baths: | 3 |
| Fireplace: | N |
| Pool: | None |
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