$899,900
611 Lancaster ST W Kitchener, ON N2K 1M5
19
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$899,900
Est. payment /mo
7 BD
5 BA
Active
611 Lancaster ST W Kitchener, ON N2K 1M5
UPDATED:
09/06/2024 05:40 PM
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID X8348798
Style Other
Bedrooms 7
Annual Tax Amount $4,666
Tax Year 2023
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.
Location
Province ON
County Waterloo
Zoning C4
Rooms
Family Room No
Basement Finished
Kitchen 5
Interior
Interior Features None
Cooling None
Inclusions 5 Refrigerators & 5 Stoves
Exterior
Garage Front Yard Parking
Garage Spaces 5.0
Pool None
Roof Type Flat
Parking Type None
Total Parking Spaces 5
Building
Foundation Poured Concrete
Listed by DEWAR REALTY INC.
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