$924,900
FOR SALE

Detached Bungalow

Bedrooms: 5Bathrooms: 2Lot: 146 x 170 ft
2025 Taxes: $4,761

125 Norice St
Meadowlands - Crestview And Area, ON K2G 2Y2 | 7302 - Meadowlands/Crestview | 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 was generating a gross monthly income of $4000, yielding a net annual income of over $48,000. Key highlights include: the upper level: renovated with two 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 a legal secondary unit with 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.
Extras
Auto Garage Door Remote, In-Law Suite, Primary Bedroom - Main Floor
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Listed By ROYAL LEPAGE TEAM REALTY
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X13182534
Last Updated May 27, 2026
Property Summary
Property Type Detached

More like this:
PIN 046720086
Legal Description PT LT 32, CON 1 RIDEAU FRONT , PARCEL 178 , AS IN CR440732 EXCEPT CR512396 ; NEPEAN
Possession Date Property is vacant
Taxes (2025) $4,761
Directions/Cross Streets Woodroffe Ave and Norice Street
Neighbourhood 7302 - Meadowlands/Crestview
Area Ottawa
Price History

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Detailed Information
Fronting On North
Special Designations Unknown
Included Cable TV
Bedrooms 5
Bathrooms 2
Lot 146 x 170 ft
Exterior Brick
Air Conditioning Central Air
Family Room Y
Fireplace/Stove Y
Basement Finished, Separate Entrance, Full, Apartment
Garage Type Detached
Garage/Park Spaces Y
Parking Spaces 4
Heat Source Wood
Heat Type Forced Air
Sewers Sewer

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