Mirna Botros

613-600-2626

2428 2430 Iris Street - $1,500,000

2428 2430 Iris Street

$1,500,000

6304 - Parkway Park

Ottawa, OntarioK2C1C6

10 beds

4 baths

4 parking

MLS#: X12699666Listed: about 21 hours agoUpdated:about 21 hours ago

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 $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. (id:58075)

Details

Details for 2428 2430 Iris Street, Ottawa, Ontario

Property Type: Multi Family
Building Type: Fourplex
Storeys: 1
Neighborhood: 6304 - Parkway Park
Land Size: 86.7 x 94.9 FT ; trapeze
Year Built: -
Annual Property Taxes: $7,559
Parking Type: No Garage

Inside

Appliances: Water meter, Oven - Built-In
Rooms: -
Bedrooms: 10
Bathrooms: 4
Fireplace: -
Fireplace Total: -
Basement: Apartment in basement, N/A

Building

Architecture Style: Bungalow
Direction: Cross Streets: Woodroffe/ Iris. ** Directions: South on Woodroffe West on Iris.
Type of Dwelling: fourplex
Roof: -
Exterior: Brick Veneer
Foundation: Poured Concrete
Flooring: -

Land

Sewer: Sanitary sewer
Lot Size: 86.7 x 94.9 FT ; trapeze
Zoning: -
Zoning Description: -

Parking

Features: No Garage
Total Parking: 4

Utilities

Cooling: Central air conditioning
Heating: Baseboard heaters, Forced air, Not known, Not known, Electric, Natural gas
Water: Municipal water

Feature Highlights