$1,650,000
Available - For Sale
Listing ID: X12363021
2428-24 Iris Stre , Parkway Park - Queensway Terrace S and A, K2C 1C6, Ottawa
| 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. |
| Price | $1,650,000 |
| Taxes: | $7655.16 |
| Assessment Year: | 2024 |
| Occupancy: | Tenant |
| Address: | 2428-24 Iris Stre , Parkway Park - Queensway Terrace S and A, K2C 1C6, Ottawa |
| Directions/Cross Streets: | Woodroffe/ Iris |
| Rooms: | 14 |
| Rooms +: | 12 |
| Bedrooms: | 6 |
| Bedrooms +: | 6 |
| Family Room: | F |
| Basement: | Apartment, Finished |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 3 | Ground |
| Washroom Type 2 | 3 | Ground |
| Washroom Type 3 | 4 | Basement |
| Washroom Type 4 | 4 | Basement |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 3 | Ground |
| Washroom Type 7 | 3 | Ground |
| Washroom Type 8 | 4 | Basement |
| Washroom Type 9 | 4 | Basement |
| Washroom Type 10 | 0 |
| Total Area: | 0.00 |
| Property Type: | Fourplex |
| Style: | Bungalow |
| Exterior: | Brick |
| 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, School |
| 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: | Forced Air |
| Central Air Conditioning: | Central Air |
| Central Vac: | N |
| Laundry Level: | Syste |
| Ensuite Laundry: | F |
| Elevator Lift: | False |
| Sewers: | Sewer |
| Utilities-Cable: | Y |
| Utilities-Hydro: | Y |
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| TRU REALTY |
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Nikki Shahebrahim
Broker
Dir:
647-830-7200
Bus:
905-597-0800
Fax:
905-597-0868
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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: | $7,655.16 |
| Beds: | 6+6 |
| Baths: | 4 |
| Fireplace: | N |
| Pool: | None |
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