611 Lancaster ST W Active

Kitchener,ON N2K 1M5

$ 849900

7 Beds

5 Baths

- SqFt


Key Details

Property Type Multi-Family

Sub Type Multiplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID X10407959

Style Other

Bedrooms 7

Annual Tax Amount $4,900

Tax Year 2024

Property 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.

Location

Province ON

County Waterloo

Area Waterloo

Zoning C4

Rooms

Family Room No

Basement Finished

Kitchen 5

Interior

Interior Features None

Cooling None

Inclusions 5 Refrigerators, 5 Stoves

Exterior

Parking Features Front Yard Parking

Garage Spaces 5.0

Pool None

Roof Type Flat

Total Parking Spaces 5

Building

Foundation Poured Concrete

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