For Sale: 473 Vernon Avenue, Ottawa, ON - REW
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$829,000
5 bd • 3 ba • 700 - 1099 sf • Multifamily
473 Vernon Avenue
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$829,000
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473 Vernon AvenueOttawa, ON, K1K 1A8

Vanier South
  • 5 Bed
  • 3 Bath
  • 700 - 1099 Sqft
  • Multifamily

About this home

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. (id:63626)
Listed by: Adam Pearce, Salesperson, SLEEPWELL REALTY GROUP LTD

Home facts and features

Price details
List Price
$829,000
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Gross Taxes for 2025
$6,341
Home facts
Bedrooms
5
Full Bathrooms
3
Parking Spaces
6
Parking Details
No Garage, Tandem
Property Type
Multifamily
Depth
61.4 feet
Frontage
84.1 feet
Style
Raised bungalow
Exterior Finish
Brick
Heating Type
Radiant heat, Natural gas
Basement Details
Finished, Apartment in basement, ,
Features
Carpet Free, Separate Electricity Meters
Appliances
Dryer, Refrigerator, Stove, Washer
Community
Agent details
Primary Agent
Adam Pearce
Primary Broker
SLEEPWELL REALTY GROUP LTD
Secondary Agent
Angie Pearce
Secondary Broker
SLEEPWELL REALTY GROUP LTD
Listing details
Days on REW
51 Days
MLS® Number
X13050852
Source
Canadian Real Estate Association
Board
Ottawa Real Estate Board
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Property Insights

Rideau High School
  • Public
  • 9 - 12
Robert E. Wilson Public School
  • Public
  • JK - 6
Queen Elizabeth Public School
  • Public
  • JK - 8
Queen Elizabeth Public School
  • Public
  • JK - 8
St Michael School
  • Catholic
  • K - 6
Ottawa Technical Secondary School
  • Public
  • 9 - 12
Our Lady of Mount Carmel Elementary School
  • Catholic
  • JK - 6
Assumption Catholic Elementary School
  • Catholic
  • JK - 6
É Élém C Horizon-Jeunesse
  • Catholic
  • JK - 6
Queen Mary Street Public School
  • Public
  • JK - 6
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Salesperson
Adam Pearce
Phone:
(613) 899-3008
Office:
613-521-2000
Salesperson
Angie Pearce
Phone:
(613) 979-2831
Office:
613-521-2000
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