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$ 1,499,999
Est. payment /mo
New
660 KING Street E Cambridge, ON N3H3N6
7 Beds
7 Baths
7,412 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 7,412 sqft
Price per Sqft $202
Subdivision 52 - Preston North
MLS® Listing ID 40767242
Bedrooms 7
Year Built 1931
Property Sub-Type Freehold
Source Cornerstone Association of Realtors
Property Description
Rates are coming down and this cap-rate is going up! Fantastic investment opportunity in the heart of Preston. With new investment happening all around and a plan for future LRT nearby, this well maintained 7,412 sqft mixed-use building with quality, long term residential and commercial tenants is a true turn-key opportunity. With mortgage rates continually dropping, this investment currently operates at approx. 6.08% Cap Rate with a market-rate potential closer to 8.59%. With 4 residential units and 2 commercial, this building offers a good mix of income streams with fantastic upside potential. 2- two bedroom units and 2 - one bedroom units on the upper levels. One of the 1-bedroom units will be vacating end of September, allowing market rate for new rent bringing the potential cap rate to 6.66%! Main floor commercial with great street exposure and long term leases. Potential for additional storage income. Equipment is all owned, no rentals. Appliances included. Schedule a viewing today (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters, , Forced air,
Cooling Central air conditioning, Wall unit
Exterior
Parking Features No
Community Features High Traffic Area, Community Centre, School Bus
View Y/N No
Total Parking Spaces 3
Private Pool No
Building
Story 2
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by RE/MAX SOLID GOLD REALTY (II) LTD.
