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$1,399,900
Ontario,Ottawa
For Sale Active
2428-2430 IRIS STREET, Ottawa, Ontario K2C2C6
  • 10
  • 4
  • 2000 - 2500Square Feet
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Basic Details
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 $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:62650)

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Basic Details
  • Property Type: Residential Income
  • Listing Type: For Sale
  • Listing ID: X13042336
  • Price: $1,399,900
  • Bedrooms: 10
  • Bathrooms: 4
  • Square Footage: 2000 - 2500 Sqft
  • Status: Active
  • Property Attached Yn: 1
  • Property Sub Type: Multi-family
  • Office Key: 290376
Features & Appliances
Features
  • Heating System: Forced air, Natural gas, Baseboard heaters, Electric
  • Cooling System: Central air conditioning
  • Basement: N/A, Apartment in basement
  • Parking: No Garage
  • Exterior Features: Brick Veneer
  • Sewer: Sanitary sewer
  • Utilities: Electricity, Sewer, Cable
Address Map
  • Location: CA, Ontario, Ottawa, K2C2C6
  • Street: Iris
  • Street Number: 2428-2430
  • Street Suffix: Street
  • Longitude: W76° 13' 33.6''
  • Latitude: N45° 21' 11.4''
Additional Information
  • Water Source:
  • Foundation Details:
  • Lot Features:
  • Lot Size Dimensions: 86.7 x 94.9 FT ; Trapeze
Financial
  • Tax Annual Amount: 7559
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Listing updated: 2026-06-18 11:28:17
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Listing Information
  • List Agent Key: 1923794
  • List Office Key: 290376
  • Modification Timestamp: 2026-06-13T14:30:00Z
  • Originating System Name: Ottawa Real Estate Board
  • Status Change Timestamp: 2026-06-13T14:23:29Z
Powered by REALTOR.ca
Listing updated: 2026-06-18 11:28:18
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