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    For Sale - 125 Norice Street, Meadowlands - Crestview and Area, Ontario

    Est payment $4,312/mo
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    Time on Jump  1 days

    AI Summary *

    • Updated bungalow with strong cash flow and potential for future development.
    • Legal secondary unit with separate entrance, perfect for rental income.
    • Spacious lot offers outdoor space and a large 2-car detached garage.
    • Located near Algonquin College and shops, with easy access to transportation.
    • New zoning may allow for significant development opportunities on the property.




    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 a legal secondary unit 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.
    Listing IDX13426556
    Address125 Norice Street
    CityMeadowlands - Crestview and Area, Ontari…
    Price$898,000
    Bed / Bath5 / 2 Full
    StyleBungalow, Detached
    ConstructionBrick
    TypeResidential
    StatusFor Sale

    Subtype DetachedIndoor Features In-Law Suite, Primary Bedroom - Main FloorOwnership FreeholdBasement Finished, Separate EntranceFoundation ConcreteHeating / Cooling Forced AirHeating Fuel GasSewer Sewer

    Parking 6.00
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    Listing Agency:  ROYAL LEPAGE TEAM REALTY

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

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    125 Norice Street
    Meadowlands - Crestview and Area , Ontario
    5 2 $898,000
    Get more info