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    For Sale - 2428-2430 Iris Street, Parkway Park - Queensway Terrace S and Area, Ontario

    Est payment $7,203/mo
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    Time on Jump  75 day

    AI Summary *

    • Legal four-unit property in a great investment location near amenities.
    • Two side-by-side bungalows with separate heating systems and soundproofing.
    • Completely renovated basement units and updated upper units for tenant comfort.
    • Gross annual income exceeds $104,000 with stable rental stream.
    • Ideal for investors to live in one unit or rent all four.




    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.
    Listing IDX12699666
    Address2428-2430 Iris Street
    CityParkway Park - Queensway Terrace S and A…
    Price$1,500,000
    Bed / Bath10 / 4 Full
    StyleBungalow, Fourplex
    ConstructionBrick Veneer
    Land Size7040
    TypeMulti-Family
    StatusFor Sale

    Subtype FourplexIndoor Features Carpet Free, Built-In Oven, Separate Heating ControlsAmenities Public Transit, Park, School Bus Route, SchoolOwnership FreeholdBasement ApartmentFoundation Poured ConcreteHeating / Cooling BaseboardHeating Fuel ElectricSewer Sewer

    Parking 4.00
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    Listing Agency:  TRU 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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    2428-2430 Iris Street
    Parkway Park - Queensway Terrace S and Area , Ontario
    10 4 $1,500,000
    Get more info