2428-2430 IRIS STREET

Ottawa, , K2C1C6, Canada

$1,499,000

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. 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 are only a few years old. Each unit offers 3 bedrooms, 1 full bathroom, a separate side entrance, and is extremely spacious with plenty of potential. Gross annual income exceeds $105,000, 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.

EXTRAS: Water Heater

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

Last updated on : Friday 5th of December 2025 12:40:35 PM

ADDRESS

Street : 2428-2430 IRIS STREET

City : Ottawa

Country : Canada

Postal Code : K2C1C6

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PROPERTY SUMMARY

Property ID : X12363021

Building Type : Fourplex

Property Type : Multi-family

Bedrooms : 12

Bathrooms : 4

Parking : 4

Parking Type: No Garage

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