611 Lancaster Street West, Kitchener | Image 1

611 Lancaster Street West

Kitchener

  • - bed - bath
$XXX,XXX est.*: $2,879/mo
For Sale

Added 3 weeks ago

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  • Type: Multiplex

  • Style: Other

  • Lot Size: 50.06 x 139.64 Feet

  • Age: 51-99 years

  • Taxes: $4,900 per year

  • Days on Site: 6 Days

  • Added: Oct 30, 2024 (3 weeks ago)

  • Updated:

  • Last Checked: 9 hours ago

  • MLS®#: X10407959

  • Listed By: Dewar realty inc.

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.

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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: 2024

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

  • Taxes: $4,900

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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