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:25961)
Schedule a Tour
Schedule Private Tour
Henock Eba would happily provide a private viewing if you would like to schedule a tour.
Match your Lifestyle with your Home
Contact Henock Eba, who specializes in Ottawa real estate, on how to match your lifestyle with your ideal home.
Get Started Now
Lifestyle Matchmaker
Let Henock Eba find a property to match your lifestyle.
Rooms
| Level | Type | Dimensions |
|---|---|---|
| Family room | Lower level | 6.45 m x 3.32 m |
| Bedroom 4 | Lower level | 4.07 m x 3.31 m |
| Bathroom | Lower level | 3.26 m x 1.11 m |
| Laundry room | Lower level | Measurements not available |
| Utility room | Lower level | 2.24 m x 2.19 m |
| Kitchen | Lower level | 4.02 m x 1.96 m |
| Foyer | Main level | Measurements not available |
| Living room | Main level | 3.53 m x 6.04 m |
| Dining room | Main level | 2.44 m x 2.86 m |
| Kitchen | Main level | 3.5 m x 4.22 m |
| Primary Bedroom | Main level | 3.38 m x 3.27 m |
| Bedroom 2 | Main level | 2.6 m x 2.51 m |
| Bedroom 3 | Main level | 3.25 m x 2.58 m |
| Bathroom | Main level | 2.41 m x 1.49 m |
| Laundry room | Main level | Measurements not available |
Details
- Architectural Style: Bungalow
- Equipment: Water Heater
- Features: In-Law Suite
- Ownership: Freehold
- Parking Spaces: 6
- Rental Equipment: Water Heater
- Transaction: For sale
Building
- Amenities: Fireplace(s)
- Appliances: Dishwasher, Dryer, Garage door opener, Hood Fan, Two stoves, Two Washers, Window Coverings, Two Refrigerators
- Architectural Style: Bungalow
- BasementType: N/A (Finished), N/A
- Basement Development: Finished
- Basement Features: Separate entrance
- Bedrooms Main Level: 3
- Bedrooms Lower Level: 2
- Construction Style Attachment: Detached
- Cooling: Central air conditioning
- Exterior Finish: Brick
- Fireplace Present: True
- Foundation: Concrete
- Bathrooms (Total): 2
- Heating: Forced air
- Heating Fuel: Natural gas
- Size Interior: 700 - 1100 sqft
- Stories Total: 1
- Type: House
- Utility Water: Municipal water
Land
- Sewer: Sanitary sewer
- Size Frontage: 146 ft
- Size Irregular: 146 x 170 FT
Listing provided by ROYAL LEPAGE TEAM REALTY
MLS®, REALTOR®, and the associated logos are trademarks of the Canadian Real Estate Association.
This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 125 NORICE STREET in Ottawa Ontario. It was last modified on June 10th, 2026. Contact Henock Eba to schedule a viewing or to discover other Ottawa real estate for sale.