611 Lancaster Street W, Kitchener, Ontario N2K 1M5 (26909084) – Ravi Bedi


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611 Lancaster Street W Kitchener, Ontario N2K 1M5

7 Bedroom 5 Bathroom 3491.63 sqft
None Forced Air

$899,900

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:50617)

Property Details

MLS® Number 40579509
Property Type Multi-family
AmenitiesNearBy Public Transit, Schools
Features Crushed Stone Driveway
ParkingSpaceTotal 5

Building

BathroomTotal 5
BedroomsTotal 7
BasementDevelopment Finished
BasementType Full (finished)
ConstructedDate 1949
CoolingType None
ExteriorFinish Metal
FireProtection Alarm System
FoundationType Poured Concrete
HeatingFuel Natural Gas
HeatingType Forced Air
StoriesTotal 2
SizeInterior 3491.63 Sqft
UtilityWater Municipal Water

Land

AccessType Highway Access
Acreage No
LandAmenities Public Transit, Schools
Sewer Municipal Sewage System
SizeDepth 140 Ft
SizeFrontage 50 Ft
SizeTotalText Under 1/2 Acre
ZoningDescription C4

https://www.realtor.ca/real-estate/26909084/611-lancaster-street-w-kitchener

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