Jag Patel
Broker
$898,000
Available - For Sale
Listing ID: X13426556
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 in-law suite 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 | $898,000 |
| 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 |
| Level/Floor | Room | Length(ft) | Width(ft) | Descriptions | |
| Room 1 | Main | Foyer | |||
| Room 2 | Main | Living Ro | 11.58 | 19.81 | |
| Room 3 | Main | Dining Ro | 8 | 9.38 | |
| Room 4 | Main | Kitchen | 11.48 | 13.84 | |
| Room 5 | Main | Primary B | 11.09 | 10.73 | |
| Room 6 | Main | Bedroom 2 | 8.53 | 8.23 | |
| Room 7 | Main | Bedroom 3 | 10.66 | 8.46 | |
| Room 8 | Main | Bathroom | 7.9 | 4.89 | 4 Pc Bath |
| Room 9 | Main | Laundry | |||
| Room 10 | Lower | Kitchen | 13.19 | 6.43 | |
| Room 11 | Lower | Family Ro | 21.16 | 10.89 | |
| Room 12 | Lower | Bedroom 4 | 13.35 | 10.86 | |
| Room 13 | Lower | Bathroom | 10.69 | 3.64 | 3 Pc Bath |
| Room 14 | Lower | Laundry | |||
| Room 15 | Lower | Utility R | 7.35 | 7.18 |
| 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 |
| Total Area: | 0.00 |
| Property Type: | Detached |
| Style: | Bungalow |
| Exterior: | Brick |
| Garage Type: | Detached |
| (Parking/)Drive: | Private Do |
| Drive Parking Spaces: | 4 |
| Park #1 | |
| Parking Type: | Private Do |
| Park #2 | |
| Parking Type: | Private Do |
| Pool: | None |
| Approximatly Square Footage: | 700-1100 |
| 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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| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| ROYAL LEPAGE TEAM REALTY |
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Jag Patel
Broker
Dir:
416-671-5246
Bus:
416-289-3000
Fax:
416-289-3008
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Freehold - Detached |
| Area: | Ottawa |
| Municipality: | Meadowlands - Crestview and Area |
| Neighbourhood: | 7302 - Meadowlands/Crestview |
| Style: | Bungalow |
| Tax: | $4,761 |
| Beds: | 3+2 |
| Baths: | 2 |
| Fireplace: | Y |
| Pool: | None |
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