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$ 898,000
Est. payment /mo
Active
125 Norice ST Meadowlands - Crestview And Area, ON K2G 2Y2
5 Beds
2 Baths
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Approx. Sqft 700-1100
Subdivision 7302 - Meadowlands/Crestview
MLS Listing ID X13426556
Style Bungalow
Bedrooms 5
Annual Tax Amount $4,761
Tax Year 2025
Property Sub-Type Detached
Property Description
We are pleased to present an exceptional investment opportunity featuring strong immediate cash flow and significant future development potential. This updated, well-maintained bungalow includes in-law suite and is situated on a prime 146 ft x 170 ft oversized lot in the desirable Crestview/Meadowlands community. The property generated a gross monthly income of $ 4,000, yielding a net annual income of over $48,000. Key highlights include: the upper level: renovated with three generous bedrooms, a modern open-concept kitchen, a four-piece bathroom, in-unit laundry, gleaming hardwood flooring and LED lighting throughout, and a bright living space. The lower level features in law unit suite with a separate entrance, two bedrooms, a three-piece bath, its own dedicated laundry facility, new laminate flooring, raw marble kitchen counters in the kitchen and bathroom, plus a sleek open-concept layout with high-end finishes. This fabulous home sits on an oversized corner fenced and hedged lot, featuring a large 2-car detached garage, an interlock patio ideal for summer enjoyment and entertaining. Location: Ideally situated within walking distance of Algonquin College, the future LRT station, the shops at College Square and easy access to the 417 Highway. The property is also steps away from convenient bus service, parks, and St. Gregory's Elementary School. Beyond the current rental income, the newly proposed Minor Corridor 2 (CM2) zoning unlocks significant development potential. This may allow for a four-story building with a footprint of over 5,500 sq. ft., potentially providing more than 25,000 sq. ft. of total living space. (Note: All development potential must be verified with the City of Ottawa. This is a rare opportunity to secure a high-yielding asset while positioning for exceptional future returns. Please let me know if you would like to schedule a viewing or if I can provide further details.
Location
Province ON
County Ottawa
Area Ottawa
Rooms
Family Room Yes
Basement Finished, Separate Entrance
Kitchen 2
Separate Den/Office 2
Interior
Interior Features In-Law Suite, Primary Bedroom - Main Floor
Cooling Central Air
Fireplaces Type Wood
Fireplace Yes
Heat Source Gas
Exterior
Parking Features Private Double
Garage Spaces 2.0
Pool None
Roof Type Asphalt Shingle
Lot Frontage 146.0
Lot Depth 170.0
Total Parking Spaces 6
Building
Foundation Concrete
Others
ParcelsYN No
Listed by ROYAL LEPAGE TEAM REALTY