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$ 1,475,000
Est. payment /mo
Active
2428-2430 Iris ST Parkway Park - Queensway Terrace S And Area, ON K2C 2C6
10 Beds
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2000-2500
Subdivision 6304 - Parkway Park
MLS Listing ID X13042336
Style 1 Storey/Apt
Bedrooms 10
Annual Tax Amount $7,559
Tax Year 2025
Property Sub-Type Fourplex
Property Description
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 $103,000, 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 Ottawa's most sought-after areas for rental properties.
Location
Province ON
County Ottawa
Area Ottawa
Rooms
Basement Apartment
Kitchen 4
Interior
Interior Features Built-In Oven, Carpet Free, Separate Heating Controls
Cooling Central Air
Exterior
Parking Features None
Pool None
Roof Type Asphalt Shingle
Total Parking Spaces 4
Building
Foundation Poured Concrete
Others
ParcelsYN No
Lited by TRU REALTY