2428-2430 IRIS STREET, Ottawa
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:25961)
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Details
- Features: Irregular lot size, Carpet Free
- Parking Spaces: 4
- Transaction: For sale
Building
- Amenities: Separate Heating Controls
- Appliances: Oven - Built-In
- BasementType: N/A
- Basement Features: Apartment in basement
- Bedrooms Main Level: 6
- Bedrooms Lower Level: 4
- Cooling: Central air conditioning
- Exterior Finish: Brick Veneer
- Fireplace Present: False
- Foundation: Poured Concrete
- Bathrooms (Total): 4
- Heating: Baseboard heaters, Forced air, Not known
- Heating Fuel: Electric, Natural gas
- Size Interior: 2000 - 2500 sqft
- Type: Fourplex
- Utility Water: Municipal water
Land
- Sewer: Sanitary sewer
- Size Depth: 94 ft ,10 in
- Size Frontage: 86 ft ,8 in
- Size Irregular: 86.7 x 94.9 FT ; Trapeze
This property for sale is located at 2428-2430 IRIS STREET in Ottawa. It was last modified on April 29th 2026. Let us connect you with one of our real estate agents to schedule a viewing or to discover other Ottawa homes for sale.
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