$1,475,000
FOR SALE

Fourplex Apartment

Bedrooms: 10Bathrooms: 4Lot: 86.68 x 94.89 ft
2025 Taxes: $7,559

2428-2430 Iris St
Parkway Park - Queensway Terrace S And Area, ON K2C 2C6 | 6304 - Parkway Park | 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.
Extras
Built-In Oven, Carpet Free, Separate Heating Controls
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Listed By TRU REALTY
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X13042336
Last Updated Apr 29, 2026
Property Summary
Property Type Fourplex

More like this:
PIN 039530003
Legal Description PT LTS 199 & 200, PL 358046 , AS IN CR507227 (SECONDLY) ; OTTAWA/NEPEAN & PT LT 199, PL 358046 , AS IN CR507227 (FIRSTLY); OTTAWA/NEPEAN
Possession Date Fully Occupied
Taxes (2025) $7,559
Directions/Cross Streets Woodroffe/ Iris
Neighbourhood 6304 - Parkway Park
Area Ottawa
Price History

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Detailed Information
Fronting On South
Special Designations Unknown
Bedrooms 10
Bathrooms 4
Lot 86.68 x 94.89 ft
Exterior Brick Veneer
Air Conditioning Central Air
Family Room Y
Basement Apartment
Garage Type None
Parking Spaces 4
Heat Source Electric
Heat Type Baseboard
Sewers Sewer

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