498 Gladstone Avenue, Ottawa Centre, ON K1R 5N8 (Lyon Street)

Price : $819,900.00 , MLS®# : X12663758

Description

Positioned on a high-visibility corner in the heart of downtown Ottawa, this fully vacant duplex offers a rare & flexible opportunity in one of the city's most connected, walkable & rapidly evolving neighbourhoods. Featuring two 2-bed units, along with four on-site parking spaces, the property provides immediate options for investors, developers, or owner-occupiers, with strong potential for redevelopment. Set on a northwest-facing corner lot the property benefits from Traditional Mainstreet zoning [TM14 H(17)], allowing for a variety of residential or mixed-use possibilities. This zoning supports everything from low- to mid-rise residential & boutique multi-unit projects to commercial space with residential above, making it well suited for thoughtful growth in line with the City's long-term vision. Full municipal services are already in place, offering a smooth path for both current use & future plans. A rare advantage in this urban setting is the four owned off-street parking spaces with access from Lyon Street, adding everyday convenience & long-term value. The corner lot layout also allows for flexible, efficient building design & strong street presence. The location truly sets this property apart. With Walk Scores in the mid to high 90s, everyday amenities such as groceries, cafés, restaurants, parks, boutiques & essential services are just steps away. The property is well served by multiple OC Transpo routes & is moments from Lyon LRT Station, providing quick access to downtown, major employment centres & the wider city. Surrounded by ongoing & future development, this central location continues to benefit from strong demand & long-term growth. Whether you're looking for a duplex with immediate potential, a smart land holding, or a prime infill opportunity, this is a compelling chance to secure a highly visible corner property in Ottawa's urban core.

Location Description

Lyon Street

Property Details
  • Community: 4103 - Ottawa Centre
  • Property Type: Vacant/Residential Freehold
  • Bedrooms: 4
  • Bath: 2
  • Garages: None
  • Annual Property Taxes : $ 5603.03
Building Features
  • Foundation Type: Block-Stone
  • Counstruction Material : Brick
  • Total Parking Space : 4
  • Parking Type : None
Building Features
  • Heating : Forced AirGas
  • Sewer : Sewer ,
Land (Lot Features)
  • Frontage: 33 sq.ft
  • Land Depth: 62sq.ft

Listing Contracted With: ROYAL LEPAGE TEAM REALTY