2428-2430 Iris Street Ottawa, Ontario K2C 1C6

$1,650,000

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:43934)

Property Details

MLS® Number	X12363021
Property Type	Multi-family
Neigbourhood	Iris
Community Name	6304 - Parkway Park
Amenities Near By	Public Transit, Schools
Features	Irregular Lot Size, Lane
Parking Space Total	4

Building

Bathroom Total	4
Bedrooms Above Ground	6
Bedrooms Below Ground	6
Bedrooms Total	12
Amenities	Separate Electricity Meters, Separate Heating Controls
Appliances	Water Heater
Architectural Style	Bungalow
Basement Development	Finished
Basement Features	Apartment In Basement
Basement Type	N/a (finished)
Cooling Type	Central Air Conditioning
Exterior Finish	Brick
Foundation Type	Poured Concrete
Heating Fuel	Natural Gas
Heating Type	Forced Air
Stories Total	1
Size Interior	2,000 - 2,500 Ft2
Type	Fourplex
Utility Water	Municipal Water

Parking

No Garage

Land

Acreage	No
Land Amenities	Public Transit, Schools
Sewer	Sanitary Sewer
Size Depth	94 Ft ,9 In
Size Frontage	86 Ft ,8 In
Size Irregular	86.7 X 94.8 Ft
Size Total Text	86.7 X 94.8 Ft
Zoning Description	Residential

Utilities

Cable	Installed
Electricity	Installed
Sewer	Installed

https://www.realtor.ca/real-estate/28773983/2428-2430-iris-street-ottawa-6304-parkway-park