660 King Street E Cambridge, Ontario N3H 3N6
$1,499,999
Rates are coming down and this cap-rate is going up! Fantastic investment opportunity in the heart of Preston. With new investment happening all around and a plan for future LRT nearby, this well maintained 7,412 sqft mixed-use building with quality, long term residential and commercial tenants is a true turn-key opportunity. With mortgage rates continually dropping, this investment currently operates at approx. 6.08% Cap Rate with a market-rate potential closer to 8.59%. With 4 residential units and 2 commercial, this building offers a good mix of income streams with fantastic upside potential. 2- two bedroom units and 2 - one bedroom units on the upper levels. One of the 1-bedroom units will be vacating end of September, allowing market rate for new rent bringing the potential cap rate to 6.66%! Main floor commercial with great street exposure and long term leases. Potential for additional storage income. Equipment is all owned, no rentals. Appliances included. Schedule a viewing today (id:63008)
Property Details
| MLS® Number | 40767242 |
| Property Type | Multi-family |
| AmenitiesNearBy | Airport, Golf Nearby, Park, Place Of Worship, Public Transit, Schools |
| CommunityFeatures | High Traffic Area, Community Centre, School Bus |
| ParkingSpaceTotal | 3 |
Building
| BathroomTotal | 7 |
| BedroomsTotal | 7 |
| BasementDevelopment | Unfinished |
| BasementType | Full (unfinished) |
| ConstructedDate | 1931 |
| CoolingType | Central Air Conditioning, Wall Unit |
| ExteriorFinish | Brick |
| FoundationType | Poured Concrete |
| HeatingFuel | Electric, Natural Gas |
| HeatingType | Baseboard Heaters, Forced Air |
| StoriesTotal | 2 |
| SizeInterior | 7412 Sqft |
| UtilityWater | Municipal Water |
Land
| AccessType | Road Access, Highway Access |
| Acreage | No |
| LandAmenities | Airport, Golf Nearby, Park, Place Of Worship, Public Transit, Schools |
| Sewer | Municipal Sewage System |
| SizeFrontage | 44 Ft |
| SizeTotalText | Under 1/2 Acre |
| ZoningDescription | C1rm2 |
https://www.realtor.ca/real-estate/28830345/660-king-street-e-cambridge
Luke Shantz
Broker
180 Weber Street South Unit A
Waterloo, Ontario N2J 2B2
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September 08 2025 05:49:03
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