2428-2430 IRIS STREET, Ottawa, Ontario K2C1C6

2428-2430 IRIS STREET
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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.

Property Specifications

Comprehensive breakdown of features and details.

Interior Details

AppliancesWater meter, Oven - Built-In
BasementApartment in basement, N/A
Bathrooms Total4
Bedrooms Total10
CoolingCentral air conditioning
HeatingBaseboard heaters, Forced air, Not known, Not known, Electric, Natural gas

Building & Exterior

Architectural StyleBungalow
Building FeaturesSeparate Heating Controls
Exterior FeaturesBrick Veneer
Foundation DetailsPoured Concrete
Parking FeaturesNo Garage
Stories1.0

Land & Location

City Region6304 - Parkway Park
Community FeaturesSchool Bus
Frontage Length86.8 feet
Lot FeaturesIrregular lot size, Lane, Carpet Free
Lot Size Dimensions86.7 x 94.9 FT ; trapeze

Utilities & Services

UtilitiesSewer, Electricity, Cable

Listing & Financials

Listing OfficeTRU REALTY
Originating System NameOttawa Real Estate Board

Other Specifications

CountryCanada
Parking Total4

For Sale

$1,500,000

2428-2430 IRIS STREET, Ottawa, Ontario K2C1C6

Beds

10

Baths

4

Living Area

-

Lot Size

-

Property Type

Fourplex

Year Built

-

Listing IDX12699666

Location & Map

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