For Sale: 2428-2430 Iris Street, Ottawa, ON - REW
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$1,399,990
10 bd • 4 ba • 2000 - 2499 sf • Multifamily
2428-2430 Iris Street
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$1,399,990
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2428-2430 Iris StreetOttawa, ON, K2C 2C6

Iris - Queensway Terrance South
  • 10 Bed
  • 4 Bath
  • 2000 - 2499 Sqft
  • Multifamily

About this home

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 $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, 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. (id:63626)
Listed by: Itai Olej, Salesperson, TRU REALTY

Home facts and features

Price details
List Price
$1,399,990
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Gross Taxes for 2026
$7,559
Home facts
Bedrooms
10
Full Bathrooms
4
Parking Spaces
4
Parking Details
No Garage
Property Type
Multifamily
Depth
94.9 feet
Frontage
86.8 feet
Exterior Finish
Brick Veneer
Heating Type
Baseboard heaters, Forced air, Electric, Natural gas
Cooling
Central air conditioning
Basement Details
Apartment in basement,
Features
Carpet Free, Irregular lot size, Separate Heating Controls
Appliances
Oven - Built-In
Community
Agent details
Primary Agent
Itai Olej
Primary Broker
TRU REALTY
Listing details
Days on REW
44 Days
Property Views
78
MLS® Number
X13042336
Source
Canadian Real Estate Association
Board
Ottawa Real Estate Board
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25 Years
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3.99%

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Property Insights

É Élém C Terre-des-Jeunes
  • Catholic
  • JK - 6
Our Lady of Victory Elementary School
  • Catholic
  • JK - 6
Severn Avenue Public School
  • Public
  • JK - 6
St Daniel Elementary School
  • Catholic
  • JK - 6
Sir Guy Carleton Secondary School
  • Public
  • 9 - 12
É Élém C d'enseignement personnalisé Édouard-Bond
  • Catholic
  • JK - 6
Woodroffe High School
  • Public
  • 9 - 12
ÉEP Charlotte Lemieux
  • Public
  • JK - 6
Pinecrest Public School
  • Public
  • JK - 8
D. Roy Kennedy Public School
  • Public
  • JK - 8
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Salesperson
Itai Olej
Phone:
(613) 601-5925
Office:
343-300-6200
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