Parkway Park - Queensway Terrace S And Area, ON K2C 1C6,2428-2430 Iris ST
Parkway Park - Queensway Terrace S And Area, ON K2C 1C6,2428-2430 Iris ST
Parkway Park - Queensway Terrace S And Area, ON K2C 1C6,2428-2430 Iris ST
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Andrew Ahmed

Andrew Ahmed

Executive Homes Realty Inc.

+1(416) 619-5278
$1,500,000
Est. payment /mo
10 Beds
4 Baths
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Fourplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 2000-2500

Subdivision 6304 - Parkway Park

MLS Listing ID X12699666

Style Bungalow

Bedrooms 10

Annual Tax Amount $7,559

Tax Year 2025

Property Sub-Type Fourplex

Property 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.

Location

Province ON

County Ottawa

Area Ottawa

Rooms

Family Room Yes

Basement Apartment

Kitchen 4

Separate Den/Office 4

Interior

Interior Features Carpet Free, Built-In Oven, Separate Heating Controls

Cooling Central Air

Fireplace No

Heat Source Electric

Exterior

Parking Features Lane

Pool None

Roof Type Asphalt Shingle

Lot Frontage 86.68

Lot Depth 94.89

Total Parking Spaces 4

Building

Unit Features Public Transit,Park,School Bus Route,School

Foundation Poured Concrete

Others

ParcelsYN Yes

Virtual Tour https://www.myvisuallistings.com/vt/358838

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Listed by TRU REALTY

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2428-2430 Iris ST