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$1,500,000
Available - For Sale
Listing ID: X12699666
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: $7,559
Assessment Year: 2025
Occupancy by: 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
Washrooms: 4
Family Room: T
Basement: Apartment
No. of Pieces Level
Washroom 1:  3 Main
Washroom 2:  4 Lower
Washroom 3:  0
Washroom 4:  0
Washroom 5:  0
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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TRU REALTY

2428-24 Iris Street , Parkway Park - Queensway Terrace S and A, K2C 1C6, Ottawa

Personal Picture
MD Ashraful Bari
Broker
Dir:
647.406.6653
Bus:
905.201.9977
Fax:
905.201.9229

 
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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
Lot Size: x 94.89(Feet)
Approximate Age:
Tax: $7,559
Maintenance Fee: $0
Beds: 6+4
Baths: 4
Garage: 0
Fireplace: N
Air Conditioning:
Pool: None
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Personal Pic MD Ashraful Bari Broker HomeLife/Future Realty Inc, Brokerage Independently owned and operated. pic Cell: 647.406.6653 | Office: 905.201.9977
MD Ashraful Bari
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Cell: 647.406.6653
Office: 905.201.9977
Fax: 905.201.9229

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HomeLife/Future Realty Inc., Brokerage
Independently owned and operated.
205-7 Eastvale Drive
Markham, ON L3S 4N8

 

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