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:49967)
| MLS® Number | 40579509 |
| Property Type | Multi-family |
| Amenities Near By | Public Transit, Schools |
| Features | Crushed Stone Driveway |
| Parking Space Total | 5 |
| Bathroom Total | 5 |
| Bedrooms Total | 7 |
| Basement Development | Finished |
| Basement Type | Full (finished) |
| Constructed Date | 1949 |
| Cooling Type | None |
| Exterior Finish | Metal |
| Fire Protection | Alarm System |
| Foundation Type | Poured Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Interior | 3491.63 Sqft |
| Utility Water | Municipal Water |
| Access Type | Highway Access |
| Acreage | No |
| Land Amenities | Public Transit, Schools |
| Sewer | Municipal Sewage System |
| Size Depth | 140 Ft |
| Size Frontage | 50 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | C4 |
https://www.realtor.ca/real-estate/26909084/611-lancaster-street-w-kitchener
Contact us for more information
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 The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
Enter your email address below to receive our Monthly Market Updates plus much more from Team Lambkin
