Addis Ababa is the capital city of Ethiopia with population of 5 million and the fastest growingrneconomy in Africa. However, urban transportation system is one of emerging problem in AddisrnAbaba. The increasing public transportation demand, mobility, ridership, accessibility, capacity,rncongestion, affordability, health and safety problems need urgent solution. Currently the cityâ€™srnadministration is on the way to introduce public transport like Bus rapid transit. Even though thernLight Rail Transit has operational, maintenance, accessibility problems it caters more than 120,000rnriders per day, on average. However, quantitative and qualitative benefits and costs are not wellrnstudied from the city`s context. The general objective of this study is to examine Addis Ababa LightrnRail Transit and Bus Rapid Transit systems against multifaceted criteria. The first objective is therncomparison of life cycle cost-benefit analysis among AA LRT and AA BRT. The second objective is tornexamine the effect of AA LRT infrastructure`s on the surrounding built-up activities using a selectedrnline from Megenagna to Sealite-Mihiret. rnThe multifaceted LCCA is conducted for 30 years and using a discount rate of 10.23% to convertrncosts and benefits into present values (2019 USD. The result shows that that the NPV of AA BRT withrntrolley is 23,340,539.98USD/km which is greater than the other two alternatives. AA LRT hasrn12,752,547.77USD/km and AA BRT with diesel buses has 7,537,666.36USD/KM of NPV. The Benefitrnto Cost Ratio (BCR) of AA BRT is 2 and 1.5 per km for trolley and diesel buses which is higher thanrnthat of the LRT with 1.24 per km. Sensitivity analysis is also conducted by increasing selected costsrnand decreasing selected benefits resulting in a decreased value of NPV which is positive and BCRrnwhich is greater than one. To attain the second objective, 384 questionnaires were distributed forrnresidents located around 500m distance from the both sides of the selected LRT corridor. The resultrnshows for more than 71% and 68% of the respondents, there is a longer distance and timernrespectively whether they use walking and/or other public transportation modes after LRT isrnconstructed. 82% of the residents reacted that the infrastructure increases the width of the roadwayrnwhich inhibits their crossing movement and decreased their neighborhood interaction. rnFinally it is concluded that the AA BRT with trolley buses the most cost effective option. But byrnenhancing the annual benefits of the MRTs through simple cost effective modifications to attract morernpassengers, their introduction and future expansion is more recommendable according to this study`srnresult. Additional recommendations from the result of sensitivity analysis proven that the agenciesrnthat manage these mass rapid transit systems should consider adding up more benefit categories andrnmore benefit amounts to increase viability, efficiency, cost effectiveness and affordability. On thernother hand, the result from the estimation of AALRT`s impact on non-users shows that therninfrastructure has negative impact on them. But this can be solved by conducting proper planningrnthrough assessing its effect on surrounding users before expanding it. rnEvaluating impacts only on the direct users of the mode and the agency is not a correct way ofrnassessment. So, before implementation of any mass rapid transit systems within the city, it isrnrecommendable to also examine their monetary and non-monetary impacts on external and internalrnusers in order to reduce or alleviate the corresponding negative effects. It should be encouraged tornattain a sustainable development in all public transportation modes in general. Therefore, this studyrncan be used as an input for Policy and planning decisions which often involve economic analysis torndetermine whether a particular Mass Rapid Transit option is cost-effective or efficient, viable andrnwhich option provides the greatest overall benefits.