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611 Lancaster St W

Lancaster St W, Bridgeport West, Kitchener, ON, N2K 1M5

7
Beds
5
Baths
3,491
Sq. Ft.
$849,900
List Price
Details
Photos
19
Comparables
History
611 Lancaster St W, Kitchener, ON - 1 of 3
611 Lancaster St W, Kitchener, ON - 2 of 3
611 Lancaster St W, Kitchener, ON - 3 of 3
175 days on market

Quick Summary

  • Stable income-generating 5-plex property
  • Solid 5% capitalization rate on $61,000 NOI
  • Rare investment opportunity in sought-after area
  • Potential for equity growth through upgrades
  • Convenient access to major highways and roads
  • Diverse unit mix caters to varied tenant profiles
  • Attractive blend of current cash flow and appreciation
  • Competitive investment opportunity with upside

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... Show More

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. (id:54626)

Property Details

Size

3,491 sq. ft.
across 2 floors
7 Beds
5 Baths
5 Full

Parking

5 Parking Spaces
-

Lot

Size
600′0″ * 1680′0″
Acres
-

Build

Year Built
1949
Model Name
-
Basement
Finished
Exterior
Metal
Foundation
Poured Concrete
Builder Name
-
Stories
2
Flooring
-
Roof
-

Heating & Cooling

Heating
Forced air
Cooling
None

Utilities

Water
Municipal water
Sewer
Municipal sewage system
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Ownership Details

Ownership

Title
Freehold
Zoning
-

Source

Listing Brokerage

MLS® Listing
40579509
Last Updated
November 5, 2024
Brokerage
DEWAR REALTY INC., BROKERAGE
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Call us 800-591-0566

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