John DiRenzo, Sales Representative • Phone: 519-857-3490 • https://www.homechannel.ca RE/MAX Centre City John DiRenzo Team Brokerage

611 Lancaster Street, Kitchener, ON, N2K 1M5 | MLS 40579509: For Sale

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611 Lancaster Street W, Kitchener

Brokered by: DEWAR REALTY INC., BROKERAGE

MLS® ID 40579509

$949,900.00 For Sale | Residential Income

FOR SALE
Type: Residential Income 
Property Type: Multi-5 Unit
MLS® District: 1 - Waterloo East / 114 - Uptown Waterloo/North Ward
County: Waterloo
Postal Code: N2K 1M5
Year Built: 1949
New Construction Y/N:  No
Stories Total: 2
Bedrooms Total:  7
Number Of Units Total:  5


     
Cross Street: Lancaster/Bridge
Directions: Bridge Street to Lancaster Street West
Interior Features: Separate Hydro Meters
Appliances:  Refrigerator,Stove
Inclusions:  Other,5 Refrigerators, 5 Stoves
Exclusions:  Tenant Belongings & Shed-Belongs To Tenant
Lot Depth:  139.64
Lot Size: 139.64 x 50.06 50.06  Fronting: West
Lot Features:  Rectangular,Highway Access,Public Transit,Schools
Acres Range:  < 0.5

Elementary School:  St. Teresa, Bridgeport P.S & Margaret Avenue P.S
High School:  St. David C.S.S & Bluevale C.I
Parking Features:  Gravel,Other
Driveway Parking:  Front Yard Parking
Garage Spaces:  0
Parking Total:  5
Covered Spaces:  0
Open Parking Y/N:  true
Open Parking Spaces:  5

Building Area Total Aprx.:  3491.63 Square Feet
Finished SqFt Aprx. (Above Grade):  1819.89 Square Feet
Finished SqFt Aprx. (Below Grade):  1671.74 Square Feet
Laundry Features:  None
Exterior: Metal/Steel Siding
Roof:  Flat
Basement:  Full,Finished
Security Features:  Alarm System,Carbon Monoxide Detector(s)
Sewer:  Sewer (Municipal)
Water:  Municipal
Heating:  Forced Air,Natural Gas
Heating Expenses:  763.7
Cooling:  None
Fireplace Y/N:  false
Crops Included Y/N:  No
Electric Expense:  4589.4
Net Income:  44355.77
WaterFront Y/N:  No
Foundation Details:  Poured Concrete
Insurance Expense:  3181.88
Administrative Fee:  0
Expenses:  Actual


Remarks: 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.


Contact Us!

611 Lancaster Street W, Kitchener ON N2K 1M5 | MLS ID® 40579509
For More Information or Schedule a Showing, send John a Message or Call 519-857-3490
John DiRenzo, Sales Representative | RE/MAX Centre City John DiRenzo Team Brokerage


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