39
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$990,000
Est. payment /mo
5 BD
3 BA
New
1429 MEADOW DRIVE Ottawa, ON K4P1B1
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision 1601 - Greely
MLS® Listing ID X11991293
Bedrooms 5
Originating Board Ottawa Real Estate Board
Property Description
Incredible Investment Opportunity! This beautifully renovated, fully tenanted income property offers multiple revenue streams on a sprawling 1.09-acre lot in the heart of Greely. Boasting VM-3 zoning, this versatile property provides endless potential for investors. The main house features two beautifully updated residential units: Unit A: A spacious 4-bedroom, 1.5-bath unit with soaring 10-ft ceilings in the living room, generating $2,375/month. Unit B: A cozy 1-bedroom, 1-bath unit, bringing in $1,691/month. Additional income sources include: Insulated 2-bay garage: Renting for $1,130/month + utilities. Commercial-grade, fully insulated Quonset hut: Featuring 1,800 sq. ft. of warehouse space with two man doors and two garage doors, leased at $2,090.50/month + utilities. Cap Rate of 6.19%%, this property is both a stable and high-potential addition to any investment portfolio. The huge fenced lot, bordered by a creek, offers beautiful landscaping, ornamental trees, perennial gardens, and plenty of space for vegetable gardens, play structures, or pets. Located just 16 minutes from the Ottawa International Airport and 7 minutes from Findlay Creeks shopping district, this property is conveniently close to schools, parks, the library, grocery stores, and the post office. Steeped in history, the "Old Post" has served as a post office, country store, and village center for over a century. Whether you're looking to expand your investment portfolio or explore new business opportunities, this rare find is not to be missed! Village Mixed-Use (VM3) zoning allows for residential and non-residential uses including: community centre, day care, food production, municipal service centre, personal service business, restaurant and retail store. Call today for more details or to book a viewing! (id:24570)
Location
Province ON
Rooms
Extra Room 1 Second level 2.43 m X 1.82 m Bathroom
Extra Room 2 Second level 4.24 m X 2.36 m Dining room
Extra Room 3 Second level 4.24 m X 3.58 m Kitchen
Extra Room 4 Second level 5.94 m X 3.98 m Primary Bedroom
Extra Room 5 Second level 3.45 m X 3.14 m Bedroom
Extra Room 6 Second level 3.12 m X 2.87 m Bedroom
Interior
Heating Forced air
Cooling Wall unit
Exterior
Parking Features Yes
View Y/N No
Total Parking Spaces 8
Private Pool No
Building
Story 1.5
Sewer Septic System
Listed by EXIT REALTY MATRIX