699 King St E, Cambridge, ON N3H 3N7, Canada
699 King St E, Cambridge, ON N3H 3N7, CanadaBasics
- Date added: Added 4 weeks ago
- Category: Residential Income
- Type: Multi-6-9 Unit
- Status: Active
- Bedrooms: 7
- Bathrooms: 7
- Area: 7412 sq ft
- Year built: 1931
- County Or Parish: Waterloo
- MLS ID: 40767242
Description
-
Description:
Rates are coming down and this cap-rate is going up! Fantastic investment opportunity in the heart of Preston. With new investment
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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
Location
- Parking Total: 3
- Directions: FOUNTAIN TO KING STREET E
Building Details
- Number Of Units Total: 6
- Building Area Total: 7412 sq ft
- Number Of Buildings: 0
- Construction Materials: Brick
- Roof: Flat
Amenities & Features
- Water Source: Municipal
- Appliances: Dryer, Refrigerator, Stove, Washer
- Sewer: Sewer (Municipal)
- Exterior Features: Controlled Entry, Lighting
- Cooling: Central Air, Wall Unit(s)
- Interior Features: Separate Heating Controls, Separate Hydro Meters
- Heating: Baseboard, Electric, Forced Air, Natural Gas
- Frontage Type: South
