$1,500,000
Available - For Sale
Listing ID: X12699666
2428-24 Iris Street , Parkway Park - Queensway Terrace S and A, K2C 1C6, Ottawa
| Fully Legal Four unit property in Parkway Park Absolute Cash Cow! Rare opportunity to own a turn-key legal 4-unit property in a premium investment location close to Algonquin College, College Square, IKEA, transit, and the new LRT. Two side-by-side bungalows, each with a main-floor unit and a legal basement apartment. All completed with permits, soundproofing, separate meters, and independent heating systems. both basement units are completely renovated (2018) upper Unit 2430 has been fully updated throughout, while 2428 has new kitchen, fresh paint, refinished hardwood flooring, and new interior doors. The property also features new appliances throughout, new furnaces, and a roof re-shingled in 2017 with vents added. Lower units Each offers 2 bedrooms and a Den/ media (sometimes used as another bedroom), 1 full bathroom, a separate side entrance, and is extremely spacious with plenty of potential. Gross annual income exceeds $104,000, and more then 6% Cap rate. This is an absolute cash cow with fantastic, well-vetted tenants and an extremely stable rental stream with virtually no vacancy. Tenants pay heat and hydro; landlord pays only water. Hot water tanks are included. This property is perfect for investors looking to move into one unit and rent the others, or lease all four units for maximum returns. More information, including detailed expenses and net income, is available upon request. Don't miss this high-demand, high-ROI opportunity in one of Ottawas most sought-after areas for rental properties. |
| Price | $1,500,000 |
| Taxes: | $7559.00 |
| Assessment Year: | 2025 |
| Occupancy: | Tenant |
| Address: | 2428-24 Iris Street , Parkway Park - Queensway Terrace S and A, K2C 1C6, Ottawa |
| Directions/Cross Streets: | Woodroffe/ Iris |
| Rooms: | 14 |
| Rooms +: | 12 |
| Bedrooms: | 6 |
| Bedrooms +: | 4 |
| Family Room: | T |
| Basement: | Apartment |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 3 | Main |
| Washroom Type 2 | 4 | Lower |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 3 | Main |
| Washroom Type 7 | 4 | Lower |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 | |
| Washroom Type 11 | 3 | Main |
| Washroom Type 12 | 4 | Lower |
| Washroom Type 13 | 0 | |
| Washroom Type 14 | 0 | |
| Washroom Type 15 | 0 | |
| Washroom Type 16 | 3 | Main |
| Washroom Type 17 | 4 | Lower |
| Washroom Type 18 | 0 | |
| Washroom Type 19 | 0 | |
| Washroom Type 20 | 0 | |
| Washroom Type 21 | 3 | Main |
| Washroom Type 22 | 4 | Lower |
| Washroom Type 23 | 0 | |
| Washroom Type 24 | 0 | |
| Washroom Type 25 | 0 | |
| Washroom Type 26 | 3 | Main |
| Washroom Type 27 | 4 | Lower |
| Washroom Type 28 | 0 | |
| Washroom Type 29 | 0 | |
| Washroom Type 30 | 0 |
| Total Area: | 0.00 |
| Property Type: | Fourplex |
| Style: | Bungalow |
| Exterior: | Brick Veneer |
| Garage Type: | None |
| (Parking/)Drive: | Lane |
| Drive Parking Spaces: | 4 |
| Park #1 | |
| Parking Type: | Lane |
| Park #2 | |
| Parking Type: | Lane |
| Pool: | None |
| Approximatly Square Footage: | 2000-2500 |
| Property Features: | Public Trans, Park |
| CAC Included: | N |
| Water Included: | N |
| Cabel TV Included: | N |
| Common Elements Included: | N |
| Heat Included: | N |
| Parking Included: | N |
| Condo Tax Included: | N |
| Building Insurance Included: | N |
| Fireplace/Stove: | N |
| Heat Type: | Baseboard |
| Central Air Conditioning: | Central Air |
| Central Vac: | N |
| Laundry Level: | Syste |
| Ensuite Laundry: | F |
| Elevator Lift: | False |
| Sewers: | Sewer |
| Utilities-Cable: | A |
| Utilities-Hydro: | A |
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At a Glance:
| Type: | Freehold - Fourplex |
| Area: | Ottawa |
| Municipality: | Parkway Park - Queensway Terrace S and A |
| Neighbourhood: | 6304 - Parkway Park |
| Style: | Bungalow |
| Tax: | $7,559 |
| Beds: | 6+4 |
| Baths: | 4 |
| Fireplace: | N |
| Pool: | None |
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