660 King St E

King St E, Preston Centre, Cambridge, ON, N3H 3N6

Beds

Baths

7,412

Sq. Ft.

$1,600,000

List Price

New

29 days on market

Quick Summary

Well-maintained mixed-use building
Quality, long term tenants
Good income mix, upside potential
4 residential units, 2 commercial units
Main floor commercial, street exposure
Long-term commercial leases
Potential for storage income
Parking for 3 vehicles

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! (id:54626)

Property Details

Size

7,412 sq. ft.

across 2 floors

6 Beds

7 Baths

7 Full

Parking

3 Parking Spaces

Build

Year Built

1931

Model Name

Basement

Unfinished

Exterior

Brick

Foundation

Poured Concrete

Builder Name

Stories

Flooring

Roof

Heating & Cooling

Heating

Baseboard heaters, Forced air

Cooling

Central air conditioning, Wall unit

Utilities

Water

Municipal water

Sewer

Municipal sewage system

SHOW LESS

Ownership Details

Ownership

Title

Freehold

Zoning

Source

Listing Brokerage

MLS® Listing

40556617

Brokerage

RE/MAX SOLID GOLD REALTY (II) LTD.

MLS® Listing

40556617

Last Updated

April 4, 2024

Brokerage

RE/MAX SOLID GOLD REALTY (II) LTD.

Call us 800-591-0566

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The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.