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:25961)
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Rooms
| Level | Type | Dimensions |
|---|
Details
- Architectural Style: Raised bungalow
- Equipment: Water Heater
- Features: Carpet Free
- Parking Spaces: 6
- Rental Equipment: Water Heater
- Structure: Shed
- Transaction: For sale
Building
- Amenities: Separate Electricity Meters
- Appliances: Dryer, Stove, Washer, Refrigerator
- Architectural Style: Raised bungalow
- BasementType: N/A, N/A (Finished)
- Basement Development: Finished
- Basement Features: Apartment in basement
- Bedrooms Main Level: 3
- Bedrooms Lower Level: 2
- Cooling: None
- Exterior Finish: Brick
- Fireplace Present: False
- Foundation: Concrete
- Bathrooms (Total): 3
- Heating: Radiant heat, Not known
- Heating Fuel: Natural gas
- Size Interior: 700 - 1100 sqft
- Stories Total: 1
- Type: Triplex
- Utility Water: Municipal water
Land
- Sewer: Sanitary sewer
- Size Frontage: 84 ft ,10 in
- Size Irregular: 84.9 x 61.4 FT
Listing provided by SLEEPWELL REALTY GROUP LTD
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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 473 VERNON AVENUE in Ottawa Ontario. It was last modified on April 27th, 2026. Contact Kim Vo to schedule a viewing or to discover other Ottawa homes for sale.