$898,000

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. (id:56106)

Property Details

MLS® Number	X13426556
Property Type	Single Family
Neigbourhood	College
Community Name	7302 - Meadowlands/Crestview
Equipment Type	Water Heater
Features	In-law Suite
Parking Space Total	6
Rental Equipment Type	Water Heater

Building

Bathroom Total	2
Bedrooms Above Ground	3
Bedrooms Below Ground	2
Bedrooms Total	5
Amenities	Fireplace(s)
Appliances	Dishwasher, Dryer, Garage Door Opener, Hood Fan, Two Stoves, Two Washers, Window Coverings, Two Refrigerators
Architectural Style	Bungalow
Basement Development	Finished
Basement Features	Separate Entrance
Basement Type	N/a (finished), N/a
Construction Style Attachment	Detached
Cooling Type	Central Air Conditioning
Exterior Finish	Brick
Fireplace Present	Yes
Foundation Type	Concrete
Heating Fuel	Natural Gas
Heating Type	Forced Air
Stories Total	1
Size Interior	700 - 1,100 Sqft
Type	House
Utility Water	Municipal Water

Parking

Detached Garage
Garage

Land

Acreage	No
Sewer	Sanitary Sewer
Size Depth	170 Ft
Size Frontage	146 Ft
Size Irregular	146 X 170 Ft
Size Total Text	146 X 170 Ft

Rooms

Level	Type	Length	Width	Dimensions
Lower Level	Family Room	6.45 m	3.32 m	6.45 m x 3.32 m
Lower Level	Bedroom 4	4.07 m	3.31 m	4.07 m x 3.31 m
Lower Level	Bathroom	3.26 m	1.11 m	3.26 m x 1.11 m
Lower Level	Laundry Room			Measurements not available
Lower Level	Utility Room	2.24 m	2.19 m	2.24 m x 2.19 m
Lower Level	Kitchen	4.02 m	1.96 m	4.02 m x 1.96 m
Main Level	Foyer			Measurements not available
Main Level	Living Room	3.53 m	6.04 m	3.53 m x 6.04 m
Main Level	Dining Room	2.44 m	2.86 m	2.44 m x 2.86 m
Main Level	Kitchen	3.5 m	4.22 m	3.5 m x 4.22 m
Main Level	Primary Bedroom	3.38 m	3.27 m	3.38 m x 3.27 m
Main Level	Bedroom 2	2.6 m	2.51 m	2.6 m x 2.51 m
Main Level	Bedroom 3	3.25 m	2.58 m	3.25 m x 2.58 m
Main Level	Bathroom	2.41 m	1.49 m	2.41 m x 1.49 m
Main Level	Laundry Room			Measurements not available

Utilities

Cable	Installed
Electricity	Installed
Sewer	Installed

https://www.realtor.ca/real-estate/29883332/125-norice-street-ottawa-7302-meadowlandscrestview