125 NORICE STREET, Ottawa
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. (id:25961)
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Rooms
| Level | Type | Dimensions |
|---|---|---|
| Lower Level | Family Room | 6.45 m x 3.32 m |
| Lower Level | Bedroom 4 | 4.07 m x 3.31 m |
| Lower Level | Bathroom | 3.26 m x 1.11 m |
| Lower Level | Laundry Room | Measurements not available |
| Lower Level | Utility Room | 2.24 m x 2.19 m |
| Lower Level | Kitchen | 4.02 m x 1.96 m |
| Main Level | Foyer | Measurements not available |
| Main Level | Living Room | 3.53 m x 6.04 m |
| Main Level | Dining Room | 2.44 m x 2.86 m |
| Main Level | Kitchen | 3.5 m x 4.22 m |
| Main Level | Primary Bedroom | 3.38 m x 3.27 m |
| Main Level | Bedroom 2 | 2.6 m x 2.51 m |
| Main Level | Bedroom 3 | 3.25 m x 2.58 m |
| Main Level | Bathroom | 2.41 m x 1.49 m |
| Main Level | Laundry Room | Measurements not available |
Details
- Architectural Style: Bungalow
- Equipment: Water Heater
- Features: In-Law Suite
- Ownership: Freehold
- Parking Spaces: 6
- Rental Equipment: Water Heater
- Transaction: For sale
Building
- Amenities: Fireplace(s)
- Appliances: Dishwasher, Dryer, Garage door opener, Hood Fan, Two stoves, Two Washers, Window Coverings, Two Refrigerators
- Architectural Style: Bungalow
- BasementType: N/A (Finished), N/A
- Basement Development: Finished
- Basement Features: Separate entrance
- Bedrooms Main Level: 3
- Bedrooms Lower Level: 2
- Construction Style Attachment: Detached
- Cooling: Central air conditioning
- Exterior Finish: Brick
- Fireplace Present: True
- Foundation: Concrete
- Bathrooms (Total): 2
- Heating: Forced air
- Heating Fuel: Natural gas
- Size Interior: 700 - 1100 sqft
- Stories Total: 1
- Type: House
- Utility Water: Municipal water
Land
- Sewer: Sanitary sewer
- Size Depth: 170 ft
- Size Frontage: 146 ft
- Size Irregular: 146 x 170 FT
This property for sale is located at 125 NORICE STREET in Ottawa. It was last modified on June 10th 2026. Let us connect you with the listing agent to schedule a viewing or to discover other Ottawa real estate for sale.
Listing provided by ROYAL LEPAGE TEAM REALTY
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