$924,900
125 Norice Street, Meadowlands - Crestview and Area, ON K2G 2Y2
5 Beds
2 Baths
6 Parking
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 generated a gross monthly income of $ 4,000, yielding a net annual income of over $48,000. Key highlights include: the upper level: renovated with three 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 in law unit suite with a separate entrance, 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.

Property Summary

Property Type Residential Freehold
Property Sub Type Detached
Transaction Type For Sale
Style Bungalow
Approximate Age 51-99
Bedrooms Above Grade 3
Bedrooms Below Grade 2
Basement Finished, Separate Entrance, Full, Apartment
Exposure North
Possession Property is vacant

Building

Building Type Detached
Square Footage 700-1100
Exterior Brick
Foundation Concrete
Roof Asphalt Shingle
Heating Forced Air
Heat Source Wood
Cooling Central Air
Fireplace Yes

Measurements

Lot Size 146 x 170
Lot Size Units Feet
Frontage 146
Depth 170
Total Living Area 700-1100

Land

Address 125 Norice Street, Meadowlands - Crestview and Area, ON K2G 2Y2
City Meadowlands - Crestview and Area
Community 7302 - Meadowlands/Crestview
County / Area Ottawa
Cross Street Woodroffe Ave and Norice Street
Sewer Sewer
Pool None
Parcel Number 046720086

Parking and Garage

Total Parking 6
Garage Spaces 2
Garage Type Detached
Parking Features Private, Available, Covered, Private Double

Taxes and Listing Info

List Price $924,900
Annual Taxes $4,761
Tax Year 2025
Status Active
Listing Date 2026-05-27T11:41:54Z
Updated 2026-05-27T14:09:49Z
MLS Number X13182534
Local Market Insight

What Buyers Should Know About 125 Norice Street, Meadowlands - Crestview and Area, ON K2G 2Y2

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

125 Norice Street, Meadowlands - Crestview and Area, ON K2G 2Y2 is positioned in 7302 - Meadowlands/Crestview, a part of Meadowlands - Crestview and Area where buyers should compare the street setting, nearby amenities, daily travel routes, and surrounding housing stock. For a Bungalow, 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 Detached 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 Ave and Norice Street, public transit options, parking availability, and drive times to employment areas. A property with 6 parking and practical road access can appeal to buyers who need convenience without giving up neighbourhood quality.

Investment Potential

At $924,900, buyers should compare recent nearby sales, days on market, condition, lot utility, and the cost of future repairs or upgrades. The property shows 5 bedrooms, 2 bathrooms, basement details marked as Finished, Separate Entrance, Full, Apartment, and a lot size of 146 x 170, 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 Meadowlands - Crestview 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 7302 - Meadowlands/Crestview. 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 125 Norice Street, Meadowlands - Crestview and Area, ON K2G 2Y2, 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.