$819,900
FOR SALE

Multiplex

Bedrooms: 4Bathrooms: 2Lot: 33 x 62 ft

498 Gladstone Avenue
Ottawa, ON K1R 5N8

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. (id:47421)
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Listed By ROYAL LEPAGE TEAM REALTY
Data Provided By Ottawa Real Estate Board
MLS® Listing Number X12671812
Last Updated May 05, 2026
Property Summary
Property Type Multiplex

More like this:
Use Apartments
Community 4103 - Ottawa Centre
Price History

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Detailed Information
Bedrooms 4
Bathrooms 2
Lot 33 x 62 ft
Amenities Nearby Highway, Public Transit
Listing Contract Date 2026-01-07
Location Description Cross Streets: Lyon Street. ** Directions: Kent Street to Gladstone Avenue. Property will be on the corner of Gladstone & Lyon.
# of Parking Spaces 4
Property Type Multi-family
Transaction Type For sale
Zoning Description TM14 H(17)
Business
Business Type Residential
Business Subtype Apartments
Building
Age 100+ years
Appliances Water Heater, Window Coverings
Cooling Type None
Heating Fuel Natural gas
Heating Type Forced air
Type Multi-Family
Utility Water Municipal water
Land
Total Size 0.047 acres
Amenities Highway, Public Transit
Size of Irregular Land 0.047

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