2428-2430 Iris Street, Parkway Park - Queensway Terrace S and Area, ON K2C 1C6
Parkway Park - Queensway Terrace S and Area, ON, K2C 1C6 · 6304 - Parkway Park
About this property
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,t ransit, 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, Rooms History 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.
Features & Amenities
- Basement: Apartment, Full, Finished, Separate Entrance
- Garage: None
- Cooling: Central Air
- Heat Type: Baseboard
- Heat Source: Electric
- Style: 1 Storey/Apt
- Construction: Brick Veneer
- Sewer: Sewer
Property Details
| Property Type | Residential Freehold |
|---|---|
| Property Sub-Type | Fourplex |
| Architectural Style | 1 Storey/Apt |
| Bedrooms | 10 |
| Bathrooms | 4 |
| Lot Size | 7,040 Feet |
| Basement | Apartment, Full, Finished, Separate Entrance |
| Garage | None |
| Parking Spaces | 4 |
| Heat Type | Baseboard |
| Heat Source | Electric |
| Cooling | Central Air |
| Sewer | Sewer |
| Annual Tax | $7,559 |
| Tax Year | 2025 |
Interior Features
- Interior Features
- Carpet Free, Built-In Oven, Separate Heating Controls
Exterior Features
- Pool Features
- None
Building & Construction
- Architectural Style
- 1 Storey/Apt
- Construction Materials
- Brick Veneer
- Foundation Details
- Poured Concrete
- Roof
- Asphalt Shingle
- Basement
- Apartment, Full, Finished, Separate Entrance
Heating & Cooling
- Heat Type
- Baseboard
- Heat Source
- Electric
- Cooling
- Central Air
Parking & Garage
- Garage Type
- None
- Parking Spaces
- 4
- Parking Total
- 4.00
- Covered Spaces
- 0
Lot & Land
- Lot Size Area
- 7040.00
- Lot Size Units
- Feet
- Lot Depth
- 88.04
- Lot Width
- 51.77
- Lot Irregularities
- Trapeze
Community & Neighborhood
- Property Features
- Public Transit, School, School Bus Route
Financial & Tax
- Tax Annual Amount
- $7,559
- Tax Year
- 2025
- Possession Type
- Immediate
- Possession Details
- 3 units are tenanted
Utilities & Services
- Sewer
- Sewer
Room Details
- Rooms Above Grade
- 14
- Rooms Below Grade
- 12
- Kitchens Above Grade
- 2
- Kitchens Total
- 4
- Bedrooms Above Grade
- 6
- Bedrooms Below Grade
- 4
Additional Details
- Occupant Type
- Tenant
- Direction Faces
- South
- County Or Parish
- Ottawa
- Cross Street
- Woodroffe/Iris
- Directions
- Woodroffe to Iris, turn right on Iris Street
- Special Designation
- Unknown
- Showing Requirements
- Lockbox
Location
2428-2430 Iris Street, Parkway Park - Queensway Terrace S and Area, ON K2C 1C6, Parkway Park - Queensway Terrace S and Area, ON, K2C 1C6