660 King Street E Cambridge, ON N3H 3N6
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-6-9 Unit
Listing Status Active
Purchase Type For Sale
Square Footage 7,412 sqft
Price per Sqft $202
MLS Listing ID 40767242
Bedrooms 7
Abv Grd Liv Area 7,412
Year Built 1931
Annual Tax Amount $12,488
Property Sub-Type Multi-6-9 Unit
Source Cornerstone
Property Description
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
Province ON
County Waterloo
Area 15 - Preston
Zoning C1RM2
Direction FOUNTAIN TO KING STREET E
Rooms
Basement Full, Unfinished
Kitchen 0
Interior
Interior Features Separate Heating Controls, Separate Hydro Meters
Heating Baseboard, Electric, Forced Air, Natural Gas
Cooling Central Air, Wall Unit(s)
Fireplace No
Appliance Dryer, Refrigerator, Stove, Washer
Laundry In-Suite, Other
Exterior
Exterior Feature Controlled Entry, Lighting
Roof Type Flat
Street Surface Paved
Lot Frontage 43.67
Garage No
Building
Lot Description Irregular Lot, Airport, Ample Parking, Business Centre, City Lot, Near Golf Course, High Traffic Area, Highway Access, Park, Place of Worship, Public Parking, Public Transit, Rec./Community Centre, School Bus Route, Schools
Faces FOUNTAIN TO KING STREET E
Story 2
Foundation Poured Concrete
Sewer Sewer (Municipal)
Water Municipal
Structure Type Brick
New Construction No
Others
Senior Community No
Tax ID 037820246
Ownership Freehold/None
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