Fantastic investment opportunity in the heart of Preston. A well-maintained mixed-use building with quality, long term residential and commercial tenants make this a true turn-key future. Current cap rate approx 5.6% with a market rate closer to 8% after future tenant turnover. With 4 residential units and 2 commercial, this building offers a good mix of income streams with great upside potential. 2 - two bedroom units and 2 - one bedroom units on the upper levels. Main floor commercial with great street exposure and long-term leases. Potential for additional storage income. Parking for 3 vehicles out back. Schedule a viewing today!
MLS# | 40556617 |
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Listing Type | For Sale |
Style | Town House |
Sub-Type | Resale |
Status | Active |
Year | 1931 |
Days On Site | 219 |
Listing Provided By | RE/MAX SOLID GOLD REALTY (II) LTD. | Luke Shantz |
Bed(s) | 6 |
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Bath(s) | 7 |
SQ Feet | 7,412 |
Basement | Y |
Story(s) | 2 |
Units | 6 |
Zoning | C1RM2 |
Golf Course | Yes |
Province | ON |
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County | Waterloo |
City | Cambridge |
Postal Code | N3H 3N6 |
Area | 15 Preston |
Subarea | 52 Preston North |
Community Name | 52 Preston North |
Listing VS Median (in 52 Preston North) | |
Price: $1,575,000 low | high Med: $499,900 SqFt: 7,412 low | high Med: 1,173 $ / SqFt: $212 low | high Med: $426 On Site: 219 low | high Med: 387.000000 |