2428-2430 IRIS STREET
Ottawa, Ontario
MLS® X13583750
$1,399,900
- Status
- Active
- Property type
- Multi-family
- MLS® number
- X13583750
- Bedrooms
- 10
- Bathrooms
- 4
- Year built
- —
1 / 43Listing 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,t ransit, 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, Rooms History 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.
Property summary
- MLS® number
- X13583750
- Property type
- Multi-family
- Building type
- Fourplex
- Land size
- 51.8 x 88 FT ; Trapeze
- Annual property taxes
- $7,559.00
- Parking
- 4 spaces · No Garage
- Days on market
- 38 days
Features & details
- Heating
- Baseboard heaters, Forced air, Electric, Natural gas
- Cooling
- Central air conditioning
- Basement
- Finished, Full, Apartment in basement, Separate entrance, N/A, N/A, N/A
- Appliances
- Oven - Built-In
- Exterior features
- Brick Veneer
- Lot features
- Carpet Free
- Community features
- School Bus
What would this home cost you?
Based on the $1,399,900 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of TRU REALTY, OTTAWA.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.