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1305-1309 King Street E Cambridge, Ontario N3H 3R2

4500 sqft
None Forced Air

$849,000

NEWLY RENOVATED TRIPLEX FOR SALE ON PRIME CORNER IN PRESTON. THIS UNIT IS FULLY TENANTED AND PRODUCES SOLID MONTHLY CASH FLOW. CURRENTLY YIELDS A 4.3% CAP RATE. THIS FORMER TOBACCO PROCESSING BUILDING HAS A RICH HISTORY AND EXUDES CHARACTER, AND ITS JUST WAITING FOR THE RIGHT INVESTOR TO UNLOCK THE POTENTIAL IN THIS UNIQUE OPPORTUNITY BY SEVERING THE BACK OF THE LOT FOR SALE FOR AN ACCELERATED RETURN ON CASH, OR BUILDING MORE MULTI RESIDENTIAL UNITS ON SITE TO INCREASE DENSITY AND RENTAL YIELDS. SITE ALLOWS FOR, 4 MORE TOWN HOMES TO BE BUILT AS OF RIGHT UNDER CURRENT LOT SIZE AND ZONING. UNION GAS HAS REQUESTED SITE ACCESS TO INSTALL A SMALL "VAULT STATION" ON SITE. CURRENT OFFER IS $10,000 TO THE FUTURE OWNER SHOULD THEY OPT TO ACCEPT IT. (id:27077)

Property Details

MLS® Number 30646014
Property Type Other
Neigbourhood Preston Centre
Amenities Near By Public Transit, Recreation
Community Features Community Centre

Building

Cooling Type None
Fireplace Present No
Heating Type Forced Air
Size Interior 4500 Sqft
Utility Water Municipal Water

Land

Acreage No
Land Amenities Public Transit, Recreation
Size Depth 165 Ft
Size Frontage 66 Ft
Size Total Text Under 1/2 Acre
Zoning Description Rm3

Utilities

Water Available

https://www.realtor.ca/PropertyDetails.aspx?PropertyId=19229260

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Century 21 Heritage House Ltd., Brokerage
865 Dundas St
Woodstock, ON N4S 1G8

(519) 621-2460
(519) 570-9151