611 Lancaster Street W , Kitchener, ON N2K 1M5
Kitchener, ON N2K 1M5
Description
Stable Income & Growth Potential in Kitchener. Make an offer on this well-priced 5-plex, currently generating $61,000 annually with a solid 5% cap rate, presents a rare opportunity for investors looking for more than just a standard duplex or triplex. Located in a highly sought-after area of Kitchener, this property offers both stable income and the potential for substantial equity growth through strategic upgrades, rental increases, and possibly adding another storey. With convenient access to Hwy 7, Bridgeport Rd, and University Ave, this property ensures easy commutes for tenants, reducing vacancy concerns and enhancing long-term rental demand. The unit mix, featuring two 2-bedroom units and three 1-bedroom units, caters to a variety of tenant profiles, increasing flexibility and occupancy potential. For savvy investors, this property presents an attractive blend of current cash flow and future appreciation, making it a competitive investment with more upside than other multi-unit properties that are currently available. Schedule a tour today and explore the possibilities of turning this 5-plex into a high-performing asset in your portfolio.
Details
| MLS# | 40579509 |
|---|---|
| Listing Type | For Sale |
| Style | Town House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1949 |
| Days On Site | 144 |
| Listing Provided By | DEWAR REALTY INC., BROKERAGE | Greg Dewar |
Features
| Bed(s) | 7 |
|---|---|
| Bath(s) | 5 |
| SQ Feet | 1,819 |
| Basement | Y |
| Story(s) | 2 |
| Units | 5 |
| Zoning | C4 |
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Learn More About This Property
| Province | ON |
|---|---|
| County | Waterloo |
| City | Kitchener |
| Postal Code | N2K 1M5 |
| Area | 1 Waterloo East |
| Subarea | 114 Uptown Waterloo | North Ward |
| Community Name | 114 Uptown Waterloo/North Ward |
| School District | St. David C.S.S & Bluevale C.I |
| Elementary School | St. Teresa, Bridgeport P.S & Mar |
| Listing VS Median (in 114 Uptown Waterloo/North Ward) | |
Price: $899,900 low | high Med: $574,444 SqFt: 1,819 low | high Med: 1,004 $ / SqFt: $495 low | high Med: $576 On Site: 144 low | high Med: 20.000000 | |
