$849,900
611 LANCASTER Street W Kitchener, ON N2K1M5
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$849,900
Est. payment /mo
7 BD
5 BA
3,491 SqFt
Price Dropped by $50K
611 LANCASTER Street W Kitchener, ON N2K1M5
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 3,491 sqft
Price per Sqft $243
Subdivision 114 - Uptown Waterloo/North Ward
MLS® Listing ID 40579509
Bedrooms 7
Originating Board Cornerstone - Waterloo Region
Year Built 1949
Property Description
Stable Income & Growth Potential in Kitchener. Make an offer on this well-priced 5-plex, currently generating $61,000 annually with a solid 5% cap rate, presents a rare opportunity for investors looking for more than just a standard duplex or triplex. Located in a highly sought-after area of Kitchener, this property offers both stable income and the potential for substantial equity growth through strategic upgrades, rental increases, and possibly adding another storey. With convenient access to Hwy 7, Bridgeport Rd, and University Ave, this property ensures easy commutes for tenants, reducing vacancy concerns and enhancing long-term rental demand. The unit mix, featuring two 2-bedroom units and three 1-bedroom units, caters to a variety of tenant profiles, increasing flexibility and occupancy potential. For savvy investors, this property presents an attractive blend of current cash flow and future appreciation, making it a competitive investment with more upside than other multi-unit properties that are currently available. Schedule a tour today and explore the possibilities of turning this 5-plex into a high-performing asset in your portfolio. (id:24570)
Location
Province ON
Interior
Heating Forced air,
Cooling None
Exterior
Garage No
Waterfront No
View Y/N No
Total Parking Spaces 5
Private Pool No
Building
Story 2
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by DEWAR REALTY INC., BROKERAGE
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