2428-2430 Iris Street Ottawa, Ontario K2C 1C6
$1,500,000
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:49712)
Property Details
| MLS® Number | X12699666 |
| Property Type | Multi-family |
| Community Name | 6304 - Parkway Park |
| Amenities Near By | Public Transit, Park, Schools |
| Community Features | School Bus |
| Features | Irregular Lot Size, Lane, Carpet Free |
| Parking Space Total | 4 |
Building
| Bathroom Total | 4 |
| Bedrooms Above Ground | 6 |
| Bedrooms Below Ground | 4 |
| Bedrooms Total | 10 |
| Amenities | Separate Heating Controls |
| Appliances | Oven - Built-in, Water Meter |
| Architectural Style | Bungalow |
| Basement Features | Apartment In Basement |
| Basement Type | N/a |
| Cooling Type | Central Air Conditioning |
| Exterior Finish | Brick Veneer |
| Foundation Type | Poured Concrete |
| Heating Fuel | Electric, Natural Gas |
| Heating Type | Baseboard Heaters, Forced Air, Not Known |
| Stories Total | 1 |
| Size Interior | 2,000 - 2,500 Ft2 |
| Type | Fourplex |
| Utility Water | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| Land Amenities | Public Transit, Park, Schools |
| Sewer | Sanitary Sewer |
| Size Depth | 94 Ft ,10 In |
| Size Frontage | 86 Ft ,8 In |
| Size Irregular | 86.7 X 94.9 Ft ; Trapeze |
| Size Total Text | 86.7 X 94.9 Ft ; Trapeze |
Utilities
| Cable | Available |
| Electricity | Available |
| Sewer | Available |
https://www.realtor.ca/real-estate/29254815/2428-2430-iris-street-ottawa-6304-parkway-park
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Adam Mills Realty Team
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January 15 2026 05:24:13
Ottawa Real Estate Board
Tru Realty
