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611 Lancaster Street W Kitchener, Ontario N2K 1M5

7 Bedroom 5 Bathroom 3491.63 sqft
None Forced Air

$949,900

Stable Income & Growth Potential in Kitchener. This 5-plex in a desirable Kitchener area offers a compelling opportunity for investors seeking a stable income stream with excellent growth potential. The property boasts a healthy 4.5% cap rate and enjoys easy access to highways 85 and 7, allowing tenants convenient commutes around the region and to Guelph. Nearby amenities, parks, schools, and shopping centres further enhance the property's appeal. Adding to its attractiveness, the property backs onto peaceful Creekside land feeding the Grand River, providing a tranquil escape for tenants, helping to boost occupancy and rental potential. The unit mix itself offers two spacious 2-bedroom units, and three functional 1-bedroom units perfect for singles or couples. This 5-plex boasts a well-connected location, a serene setting, and a diversified unit mix, creating a strong foundation for a successful investment. Learn more about the property's income potential and schedule your tour. (id:56248)

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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