506 Vernon Avenue

Welcome to 506 Vernon Avenue, Ottawa, a fantastic opportunity for those seeking a house for sale in Ottawa . Nestled in the desirable Castle Heights community, this detached bungalow, built in 1960, boasts a generous lot size of 51 x 111 feet. With its versatile layout and strong rental income potential, this property is perfect for investors or those looking to create a comfortable family home.

As you approach 506 Vernon Avenue, Ottawa, you'll appreciate the charming exterior, which features a combination of durable brick and vinyl siding. The property is set within a quiet neighbourhood, offering a serene environment while still being conveniently located just minutes from the bustling heart of downtown Ottawa. The area is well-served by local amenities, including the St. Laurent Shopping Centre, a variety of cafes, schools, and parks, as well as the picturesque Rideau River pathways.

This house for sale in Ottawa offers a total of seven rooms on the main level, including a bright and airy two-bedroom unit that is perfect for comfortable living. The open-plan living and dining space is enhanced by a cosy fireplace, creating a warm and inviting atmosphere. The main kitchen is well-equipped, and there is also a three-piece bathroom for convenience. For those considering rental opportunities, the finished lower level of the property is particularly appealing. It features a one-bedroom unit alongside two studio apartments, each with their own kitchen and bathroom. This layout provides privacy and comfort for long-term tenants, making it an attractive option for those looking to generate income.

In total, 506 Vernon Avenue, Ottawa, boasts four kitchens and four bathrooms, offering over 2,300 square feet of finished living space. This flexibility allows for various living configurations, whether you choose to occupy part of the home yourself or rent out the additional units. The property is equipped with central air conditioning, ensuring a comfortable environment year-round, and the gas forced-air heating system provides efficient warmth during the colder months.

Parking is never a concern here, as the property includes five parking spaces, with a detached garage that can accommodate one vehicle. Although there is no driveway, the ample parking space ensures that residents and guests can easily access the home. Additionally, the property is unfurnished, allowing new owners to personalise the space to their taste.

One notable aspect of this house for sale in Ottawa is the zoning designation of R4UA, which enhances the multi-unit possibilities for the property. This makes it an excellent investment for those looking to expand their real estate portfolio or create a multi-generational living space. The established rental income of approximately £63,264 annually further underscores the potential of this property as a long-term investment.

In summary, 506 Vernon Avenue, Ottawa, is more than just a house; it is a unique opportunity to invest in a prime location with established rental income and multi-unit zoning. Whether you are looking to live in one part of the home while renting out the rest or seeking a property that offers strong investment potential, this bungalow ticks all the boxes. Don't miss your chance to explore this exceptional house for sale in Ottawa. Book your private showing today and discover the endless possibilities that await you at 506 Vernon Avenue!

Castle Heights, located in the vibrant city of Ottawa, is a charming residential neighbourhood that offers a delightful blend of suburban tranquillity and urban convenience. Characterised by its tree-lined streets and well-maintained homes, the area boasts a strong sense of community spirit while providing easy access to local amenities, parks, and schools. With its proximity to the bustling downtown core, residents can enjoy a variety of cultural attractions, dining options, and recreational activities, all within a short commute. Castle Heights is an ideal choice for those seeking a peaceful yet connected lifestyle in Canada’s capital.

Schools in the Neighbourhood

This property is conveniently located near several reputable schools, making it an ideal choice for families. Within a short distance, you'll find Robert E. Wilson Public School (0.4 km) and Queen Elizabeth Public School (0.5 km), both offering English-language instruction for elementary grades, with ratings of 4 and 3.9, respectively. For those seeking a French-language education, Manor Park Public School (2.0 km) and Vincent Massey Public School (3.8 km) are excellent options, rated 6 and 6.9. For secondary education, Lisgar Collegiate Institute (3.5 km) stands out with a commendable rating of 7.9, while Immaculata High School (3.7 km) offers a Catholic education with a rating of 5.8. Additionally, St. Michael School (0.6 km) provides a Catholic elementary option, rated 3.3. The variety of schools in close proximity, catering to both English and French-speaking students, ensures that families have access to quality education tailored to their needs. Overall, this neighborhood is well-equipped to support the educational aspirations of children, making it a desirable location for potential buyers.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 453 residents, with an average household size of 2.3 individuals. The demographic profile indicates a mature community, with an average age of 41.6 years. The average household income stands at $75,500, although 18.8% of the population is classified as low-income. The real estate market reflects a median property price of $540,000, with a notable percentage of single individuals (60.26%) and households with children making up 30.43% of the community. The area has a diverse demographic, with 18.39% of residents being immigrants. A significant portion of the population, 69.44%, are renters, and condos represent 19.44% of the housing options available. Education levels are relatively high, with 38.89% of residents holding a college or university degree. However, it's worth noting that half of the population is not actively participating in the labor force. This demographic snapshot highlights a community that is diverse, with a mix of families, singles, and a significant number of renters, making it an interesting area for potential homebuyers and investors alike.