Address: 660 KING Street E, Cambridge FOR SALE Subdivision: 52 - Preston North Postal Code: N3H3N6 Style: Bedrooms: 7 Bathrooms: 7 Lot Size: 44 ft x Stories: 2
About 660 King Street E
Rates are coming down and this cap-rate is going up! Fantastic investment opportunity in the heart of Preston. With new investment 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 (id:56071). Get more information on 660 King Street E
Property Features
Rental Equipment: Directions: FOUNTAIN TO KING STREET E Zoning Description: C1RM2 Interior Size: 7412 sqft Community Features: High Traffic Area, Community Centre, School Bus Access: Road access, Highway access Lot: under 1/2 acre Exterior Finish: Brick Water: Municipal water, Municipal sewage system Heating / Cooling: Electric, Natural gas / Central air conditioning, Wall unit Age: 1931 Foundation: Poured Concrete Constructed Date: 1931 Basement: Full (Unfinished) Unfinished
Rooms & Sizes
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John DiRenzo
Sales Representative RE/MAX Centre City John DiRenzo Team Brokerage
Direct Phone: (519) 857-3490
John DiRenzo, Salesperson. Cell: (519) 857-3490. RE/MAX Centre City John DiRenzo Team Brokerage.
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