$ 1,399,000
2428-2430 Iris Street
2428-2430 Iris Street, Ottawa, ON K2C1C6 Photo 1
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2428-2430 Iris Street, 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,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. (id:1945)
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Property details for 2428-2430 Iris Street, Ottawa

Type
Multi-family
Bedrooms
10
Bathrooms
4
Lot Size
51.8 x 88 FT ; Trapeze
Basement
Finished, Full, Apartment in basement, Separate entrance, N/A, N/A, N/A
Parking
No Garage
Heating
Baseboard heaters, Forced air, Electric, Natural gas
Cooling
Central air conditioning
Exterior
Brick Veneer
Annual Taxes
$7,559 (2025)

Nearby Listings Stat

Estimated price and comparable properties near 2428-2430 Iris Street

Active Listings
1
Min Price
$1,399,000
Max Price
$1,399,000
Avg Price
$1,399,000
Days on Market
71
days
Sold Listings
0
Min Sold Price
$N/A
Max Sold Price
$N/A
Avg Sold Price
$N/A
Days until Sold
N/A
days

Neighbourhood Census Data

Ottawa, Ontario

Population
1,045
Median Age
38.5
Median Income
$35,456
Dwelling Value
$348,373

Housing Tenure

Owners 69%
Renters 32%

Age Distribution

Dwelling Types

Commute Mode

Education Level

Housing Age

Commute Duration

Avg Household Size: 2.3
Pop. Density: 2,492.8/km²
Avg Shelter Cost: $1,164/mo
Owners with Mortgage: 50.8%
Owners Spending 30%+: 13.1%
Tenants Spending 30%+: 42.9%
English only: 70.3%
French only: 0.5%
English and French: 27.8%
Neither: 1.4%
Median Household Income: $72,704
Median Employment Income: $34,048

Price History

Listed
July 20, 2026
by TRU REALTY
Current Price
$1,399,000
-0.1% from last change
Type
Multi-family
For Sale
Price Changes
3
Date Price Change
Current $1,399,000 $900 (-0.1%)
Sep 16, 2026 $1,399,900 $90 (-0%)
Jun 13, 2026 $1,399,990 $75,010 (-5.1%)
May 27, 2026 $1,475,000 Listed

Contact Agent Get in touch about 2428-2430 Iris Street, Ottawa

Itai Olej
Itai Olej
TRU REALTY

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