38 photos


$829,000
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 $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
Market Insights for Triplex in Ottawa
Based on 25 sales in the last 90 days · Showing city-wide data
New Listings
25
Avg Days on Market
48 days
Avg Price/Sq Ft
$419
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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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