611 Lancaster Street West, Kitchener | Image 1

611 Lancaster Street West

Kitchener

  • - bed - bath
$XXX,XXX est.*: $3,387/mo
For Sale

Added 1 month ago

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  • Type: Multiplex

  • Style: Other

  • Lot Size: 50.06 x 139.64 Feet

  • Age: 51-99 years

  • Taxes: $4,666 per year

  • Days on Site: 7 Days

  • Added: May 16, 2024 (1 month ago)

  • Updated:

  • Last Checked: 2 hours ago

  • MLS®#: X8348798

  • Listed By: Dewar realty inc.

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.

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Property

  • Status: Sale

  • Property Type: Multiplex

  • Style: Other

  • Age: 51-99

  • Area: Kitchener

  • Availability Date: Flexible

  • Assessment Amount: $385,000

  • Assessment Year: 2024

Inside

  • Bedrooms: 7

  • Bathrooms: 5

  • Kitchens: 5

  • Rooms: 27

  • Den/Family Room: No

  • Air Conditioning: None

  • Fireplace: No

  • Washrooms: 5

Building

  • Basement: Finished

  • Heat Type: Forced Air

  • Heat Source: Gas

  • Exterior: Metal/Side

  • Water Supply: Municipal

  • Special Designation: Unknown

Parking

  • Driveway: Front Yard

  • Garage Type: None

  • Covered Parking Spaces: 5

  • Total Parking Spaces: 5

Fees

  • Tax Year: 2023

  • Tax Legal Description: PT LT 2 EBY & DEVITT'S SURVEY PL 577 KITCHENER AS IN 864579; KIT

  • Taxes: $4,666

Land

  • Cross Street: Bridge Street E

  • Municipality District: Kitchener

  • Fronting On: West

  • Parcel Number: 223430310

  • Pool: None

  • Sewer: Sewers

  • Lot Depth: 139.64 Feet

  • Lot Frontage: 50.06 Feet

  • Acres: < .50

  • Zoning: C4

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Somewhat Walkable

  • Some errands can be accomplished on foot.
51 /100

Some Transit

  • Most errands require a car.
39 /100

Somewhat Bikeable

  • Most errands require a car.
49 /100
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Map of 611 Lancaster Street West, Kitchener
JK-8

St Teresa Catholic Elementary School

Elementary: Catholic
1.59 km
JK-6

Prueter Public School

Elementary: Public
1.59 km
JK-8

St Agnes Catholic Elementary School

Elementary: Catholic
1.70 km
7-8

Margaret Avenue Public School

Elementary: Public
2.52 km
JK-6

Bridgeport Public School

Elementary: Public
0.28 km
JK-8

St Matthew Catholic Elementary School

Elementary: Catholic
1.75 km
9-12

Rosemount - U Turn School

Secondary: Public
3.00 km
9-12

St David Catholic Secondary School

Secondary: Catholic
3.67 km
Pre-Grade 9-12

Kitchener Waterloo Collegiate and Vocational School

Secondary: Public
3.55 km
Pre-Grade 9-12

Bluevale Collegiate Institute

Secondary: Public
1.53 km
Pre-Grade 9-12

Waterloo Collegiate Institute

Secondary: Public
3.76 km
Pre-Grade 9-12

Cameron Heights Collegiate Institute

Secondary: Public
4.10 km

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