Vishal Sharma
Broker
$924,900
Available - For Sale
Listing ID: X13182534
125 Norice Street , Meadowlands - Crestview and Area, K2G 2Y2, Ottawa
| 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. |
| Price | $924,900 |
| Taxes: | $4761.00 |
| Assessment Year: | 2025 |
| Occupancy: | Vacant |
| Address: | 125 Norice Street , Meadowlands - Crestview and Area, K2G 2Y2, Ottawa |
| Directions/Cross Streets: | Woodroffe Ave and Norice Street |
| Rooms: | 9 |
| Rooms +: | 8 |
| Bedrooms: | 3 |
| Bedrooms +: | 2 |
| Family Room: | T |
| Basement: | Finished, Separate Ent |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 4 | Main |
| Washroom Type 2 | 3 | Lower |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 4 | Main |
| Washroom Type 7 | 3 | Lower |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 |
| Total Area: | 0.00 |
| Approximatly Age: | 51-99 |
| Property Type: | Detached |
| Style: | Bungalow |
| Exterior: | Brick |
| Garage Type: | Detached |
| (Parking/)Drive: | Private, A |
| Drive Parking Spaces: | 4 |
| Park #1 | |
| Parking Type: | Private, A |
| Park #2 | |
| Parking Type: | Private |
| Park #3 | |
| Parking Type: | Available |
| Pool: | None |
| Approximatly Age: | 51-99 |
| Approximatly Square Footage: | 700-1100 |
| Property Features: | Park, Public Transit |
| CAC Included: | N |
| Water Included: | N |
| Cabel TV Included: | N |
| Common Elements Included: | N |
| Heat Included: | N |
| Parking Included: | N |
| Condo Tax Included: | N |
| Building Insurance Included: | N |
| Fireplace/Stove: | Y |
| Heat Type: | Forced Air |
| Central Air Conditioning: | Central Air |
| Central Vac: | N |
| Laundry Level: | Syste |
| Ensuite Laundry: | F |
| Sewers: | Sewer |
| Utilities-Cable: | Y |
| Utilities-Hydro: | Y |
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| ROYAL LEPAGE TEAM REALTY |
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Vishal Sharma
Broker
Dir:
416-627-6612
Bus:
905-673-8500
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At a Glance:
| Type: | Freehold - Detached |
| Area: | Ottawa |
| Municipality: | Meadowlands - Crestview and Area |
| Neighbourhood: | 7302 - Meadowlands/Crestview |
| Style: | Bungalow |
| Approximate Age: | 51-99 |
| Tax: | $4,761 |
| Beds: | 3+2 |
| Baths: | 2 |
| Fireplace: | Y |
| Pool: | None |
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