125 Norice Street Ottawa, Ontario K2G 2Y2
$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:37072)
Property Details
| MLS® Number | X13426556 |
| Property Type | Single Family |
| Neigbourhood | College |
| Community Name | 7302 - Meadowlands/Crestview |
| EquipmentType | Water Heater |
| Features | In-law Suite |
| ParkingSpaceTotal | 6 |
| RentalEquipmentType | Water Heater |
Building
| BathroomTotal | 2 |
| BedroomsAboveGround | 3 |
| BedroomsBelowGround | 2 |
| BedroomsTotal | 5 |
| Amenities | Fireplace(s) |
| Appliances | Dishwasher, Dryer, Garage Door Opener, Hood Fan, Two Stoves, Two Washers, Window Coverings, Two Refrigerators |
| ArchitecturalStyle | Bungalow |
| BasementDevelopment | Finished |
| BasementFeatures | Separate Entrance |
| BasementType | N/a (finished), N/a |
| ConstructionStyleAttachment | Detached |
| CoolingType | Central Air Conditioning |
| ExteriorFinish | Brick |
| FireplacePresent | Yes |
| FoundationType | Concrete |
| HeatingFuel | Natural Gas |
| HeatingType | Forced Air |
| StoriesTotal | 1 |
| SizeInterior | 700 - 1100 Sqft |
| Type | House |
| UtilityWater | Municipal Water |
Parking
| Detached Garage | |
| Garage |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| SizeDepth | 170 Ft |
| SizeFrontage | 146 Ft |
| SizeIrregular | 146 X 170 Ft |
| SizeTotalText | 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
Interested?
Contact us for more information
Tara Graff
Salesperson
5536 Manotick Main St
Manotick, Ontario K4M 1A7
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June 10 2026 05:36:07
Ottawa Real Estate Board
Royal LePage Team Realty