611 Lancaster Street W Kitchener, Ontario N2K 1M5
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$999,900
Stable Income & Growth Potential in Kitchener. This 5-plex in a desirable Kitchener area offers a compelling opportunity for investors seeking a stable income stream with excellent growth potential. The property boasts a healthy 4.5% cap rate and enjoys easy access to highways 85 and 7, allowing tenants convenient commutes around the region and to Guelph. Nearby amenities, parks, schools, and shopping centres further enhance the property's appeal. Adding to its attractiveness, the property backs onto peaceful Creekside land feeding the Grand River, providing a tranquil escape for tenants, helping to boost occupancy and rental potential. The unit mix itself offers two spacious 2-bedroom units, and three functional 1-bedroom units perfect for singles or couples. This 5-plex boasts a well-connected location, a serene setting, and a diversified unit mix, creating a strong foundation for a successful investment. Learn more about the property's income potential and schedule your tour. (id:58072)
Property Details
| MLS® Number | 40579509 |
| Property Type | Multi-family |
| AmenitiesNearBy | Public Transit, Schools |
| Features | Crushed Stone Driveway |
| ParkingSpaceTotal | 5 |
Building
| BathroomTotal | 5 |
| BedroomsTotal | 7 |
| BasementDevelopment | Finished |
| BasementType | Full (finished) |
| ConstructedDate | 1949 |
| CoolingType | None |
| ExteriorFinish | Metal |
| FireProtection | Alarm System |
| FoundationType | Poured Concrete |
| HeatingFuel | Natural Gas |
| HeatingType | Forced Air |
| StoriesTotal | 2 |
| SizeInterior | 3491.63 Sqft |
| UtilityWater | Municipal Water |
Land
| AccessType | Highway Access |
| Acreage | No |
| LandAmenities | Public Transit, Schools |
| Sewer | Municipal Sewage System |
| SizeDepth | 140 Ft |
| SizeFrontage | 50 Ft |
| SizeTotalText | Under 1/2 Acre |
| ZoningDescription | C4 |
https://www.realtor.ca/real-estate/26909084/611-lancaster-street-w-kitchener
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May 23 2024 01:38:30
Kitchener-Waterloo Association of REALTORS®
Dewar Realty Inc., Brokerage