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$ 1,650,000
Est. payment /mo
New
2428-2430 IRIS STREET Ottawa, ON K2C1C6
12 Beds
4 Baths
2,000 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,000 sqft
Price per Sqft $825
Subdivision 6304 - Parkway Park
MLS® Listing ID X12363021
Style Bungalow
Bedrooms 12
Source Ottawa Real Estate Board
Property Description
Fully Legal Fourplex 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. 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 are only a few years old. Each unit offers 3 bedrooms, 1 full bathroom, a separate side entrance, and is extremely spacious with plenty of potential. Gross annual income exceeds $103,000, with two rent increases coming soon, providing further upside. 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. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling Central air conditioning
Exterior
Parking Features No
View Y/N No
Total Parking Spaces 4
Private Pool No
Building
Story 1
Sewer Sanitary sewer
Architectural Style Bungalow
Listed by TRU REALTY