$1,399,990
2428-2430 Iris Street, Parkway Park - Queensway Terrace S and Area, ON K2C 2C6
10 Beds
4 Baths
4 Parking
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.

Property Summary

Property Type Residential Freehold
Property Sub Type Fourplex
Transaction Type For Sale
Style 1 Storey/Apt
Bedrooms Above Grade 6
Bedrooms Below Grade 4
Basement Apartment
Exposure South
Possession Fully Occupied

Building

Building Type Fourplex
Square Footage 2000-2500
Exterior Brick Veneer
Foundation Poured Concrete
Roof Asphalt Shingle
Heating Baseboard
Heat Source Electric
Cooling Central Air
Fireplace No

Measurements

Lot Size 86.68 x 94.89
Lot Size Area 7040
Lot Size Units Feet
Frontage 86.68
Depth 94.89
Total Living Area 2000-2500

Land

Address 2428-2430 Iris Street, Parkway Park - Queensway Terrace S and Area, ON K2C 2C6
City Parkway Park - Queensway Terrace S and Area
Community 6304 - Parkway Park
County / Area Ottawa
Cross Street Woodroffe/ Iris
Sewer Sewer
Pool None
Parcel Number 039530003

Parking and Garage

Total Parking 4
Garage Spaces 0
Garage Type None

Taxes and Listing Info

List Price $1,399,990
Annual Taxes $7,559
Tax Year 2025
Status Active
Listing Date 2026-04-24T18:45:55Z
Updated 2026-05-27T16:50:35Z
MLS Number X13042336
Local Market Insight

What Buyers Should Know About 2428-2430 Iris Street, Parkway Park - Queensway Terrace S and Area, ON K2C 2C6

This editorial summary helps buyers look beyond the headline price and review the neighbourhood, transit, schools, rental demand, long-term value, and due-diligence items that often matter before booking a showing or submitting an offer.

Neighbourhood Analysis

2428-2430 Iris Street, Parkway Park - Queensway Terrace S and Area, ON K2C 2C6 is positioned in 6304 - Parkway Park, a part of Parkway Park - Queensway Terrace S and Area where buyers should compare the street setting, nearby amenities, daily travel routes, and surrounding housing stock. For a 1 Storey/Apt, the strongest fit often depends on whether the location supports everyday routine as well as the numbers on paper.

School And Family Considerations

Families reviewing this Fourplex should confirm school boundaries directly with the local school boards before relying on listing notes. It is also worth checking walkability to parks, childcare, recreation centres, libraries, and community facilities because these details can influence both lifestyle value and future resale demand.

Transit And Access

The location should be assessed around commute patterns, access to Woodroffe/ Iris, public transit options, parking availability, and drive times to employment areas. A property with 4 parking and practical road access can appeal to buyers who need convenience without giving up neighbourhood quality.

Investment Potential

At $1,399,990, buyers should compare recent nearby sales, days on market, condition, lot utility, and the cost of future repairs or upgrades. The property shows 10 bedrooms, 4 bathrooms, basement details marked as Apartment, and a lot size of 86.68 x 94.89, all of which can affect value.

Rental Demand

If this property is being reviewed as a rental or investment, demand should be measured by bedroom count, transit access, employment access, nearby schools, parking, and the condition of the unit or home. In Parkway Park - Queensway Terrace S and Area, rental appeal usually improves when a property is easy to maintain and simple for tenants to live in.

Local Attractions And Amenities

Buyers should look at grocery access, restaurants, trails, parks, shopping, medical services, and weekend amenities around 6304 - Parkway Park. These features do not always appear in the MLS data, but they can make a major difference in how the home feels after move-in and how future buyers compare it.

Builder, Condition, And Due Diligence

For resale homes, review renovations, permits, roof and mechanical age, exterior condition, inclusions, and rental items. For condo or newer properties, review building history, maintenance fees, reserve fund information, rules, amenities, and future cost exposure. A showing and document review should confirm anything not visible in the listing.

Nearby Infrastructure

Infrastructure matters because transit improvements, road projects, schools, parks, commercial growth, and employment nodes can change how an area performs over time. For 2428-2430 Iris Street, Parkway Park - Queensway Terrace S and Area, ON K2C 2C6, buyers should check municipal plans, nearby construction, zoning context, and future projects that may affect enjoyment or resale value.

This section is informational only. Buyers should verify schools, measurements, rental rules, taxes, zoning, and property condition with the appropriate professionals before making a decision.

Listing data is provided through PropTx/MLS data services and is deemed reliable but not guaranteed. Listings are subject to change without notice.