Whether you're a house-hacker hunting for the perfect place to live in and grow your wealth or a pure investor looking for an amazing investment vehicle (6% CAP rate), this is truly a rare opportunity. This 4plex means that if you want to move in, you can pick the bachelor or a 2 bedroom or the 3 bedroom. Fully Renovated: Professionally redone top to bottom, ensuring you attract high-quality tenants & minimize future maintenance costs. Nearly everything is NEW, meaning fewer headaches, more peace of mind. Immediate Rental Income: 3 out of 4 units are currently vacant, giving you the flexibility to set market-rate rents right from the start. Unit 3, the smaller 2-bedrm, is already rented at $1,900/month + utilities (current market rate), proving the income potential. Total projected: cash flow of $1,122/mo, total 5 yr equity of $600k, 10 yr equity $975k, 15 yr equity $1.4m * For the house hacker: ?If you occupy the bachelor unit, here's the new math as of Dec 15: Minimum down $115k = mtg $1,280,000 4.25%/30 year = $6,269/mo. $8,000 income - bachelor@ $1,500 = $6,500 net income - $6269 mortgage = $231 cash flow. * Versatile Layout: The suite configurations offer you diverse rental options. The composition includes one 3-bedroom, two 2-bedrooms, and one bachelor unit. Plus, there's parking for four vehicles at the rear of the property * (House is virtually staged.) The asphalt walkway on the south side of the house will be replaced in September * Amazing location! You've got the Grand River right in front of you with access to lots of walking trails including the famous Cambridge To Paris Rail-Trail, WALK to: Downtown 5min, Cambridge Bus Terminal 6min, groovy Gaslight District 8min, U of W Cambridge 10min, grocery store12 min - so near to everything without being in the thick of it * By car you are 10min to the 401, 30min to Hamilton, and an hour to Toronto * No, this one will not be available for long! Grab the brass ring and begin to create generational wealth!
MLS# | 40640000 |
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Listing Type | For Sale |
Style | Town House |
Sub-Type | Resale |
Status | Active |
Year | 1890 |
Days On Site | 71 |
Listing Provided By | Real Estate Homeward | Gordon Springle |
Bed(s) | 7 |
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Bath(s) | 3 |
SQ Feet | 3,259 |
Basement | Y |
Story(s) | 2 |
Units | 4 |
Zoning | FC1RM1 |
Province | ON |
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County | Waterloo |
City | Cambridge |
Postal Code | N1R 3E1 |
Area | 12 Galt East |
Subarea | 20 City Core | Wellington |
Community Name | 20 City Core/Wellington |
Listing VS Median (in 20 City Core/Wellington) | |
Price: $1,395,000 low | high Med: $399,950 SqFt: 3,259 low | high Med: 713 $ / SqFt: $428 low | high Med: $567 On Site: 71 low | high Med: 11.000000 |