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CAONCambridgePreston Centre660 King St E
660 King St E, Home with 7 bedrooms, 7 bathrooms and 3 parking in Cambridge ON | Image 1
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$1,499,999

660 King St E, Cambridge, ON

Real Estate

For Sale

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773
  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size 7412 sqft
Garage No
Taxes $12,489
Days Active 7
Lot Size 
Approx. Age 1931
Avg. Price Per Sqft $202
MLS® Number 40767242

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

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 todayShow Description
MLS® Number40767242
Laundry LevelIn-Suite, Other
Central VacNo
FireplaceNo
Acreage
ExteriorControlled Entry, Lighting
GarageNo
Approx. Age1931
BasementFull, Unfinished
Driveway
Garage Spaces
HeatBaseboard, Electric, Forced Air, Natural Gas
A/CCentral Air, Wall Unit(s)
Heating Fuel

Extras

Other, 4 Stove, 4 Fridge, 2 Washer 2 Dryer, Restaurant Chattels, Equipment And Fixtures

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