611 Lancaster St W

Kitchener | | N2K 1M5
  • 7
  • 5
  • 0

Ask: $999,900 $899,900

Est. Mtg $3,051 /mo
  • Days on market

    138

  • Status

    Pc

Listing Broker DEWAR REALTY INC.
Since listed: 2 views

Home details

MLS #:

X8348798

Property type:
Multiplex
Style:
Other
Taxes:
$4,666
Possession:
Flexible
Lot Front:
50.06   Feet
Lot Depth:
139.64   Feet
Basement:
Finished |
Driveway Pkg:
5
Heat:
Gas | Forced Air

Description


611 Lancaster St W, , Kitchener, Ontario is a Multiplex property in Kitchener and in the community in the N2K 1M5 postal code


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..

Extras

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History

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List Date End Date List Price End Price Status MLS #
2024-05 2024-09 $999,900 $899,900 Pc X8348798

Comparables

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sold Date Address List Price sold Price DOM
2022-01 158A Lake St, $890,000 $835,000 35

Statistics: TRREB Market Watch - JUNE 2023

Municipality activity All Property Types

Sale activity

Kitchener :

Average sale price
Properties sold
New Listings
Days on Market
Sale $ / List $
Year on Year Growth


Estimated running costs for 611 Lancaster St W

Based on available 3rd party data

$3575

Approximate costs per month

Mortgage
$3051 p/m
Energy
from $75 p/m
Water
from $40 p/m
Home insurance
from $20 p/m
Taxes
$388 p/m
Maintenance
$0 p/m

Amenities:

Features:

Listing Broker DEWAR REALTY INC.
Data Source: TRREB

Payment calculator

$3440 monthly. In association with: TD Bank
%
  • Principal and Interest
    3051 /mo
  • Property Taxes
    $388 /mo
  • Yearly Condo Fees
    $0

* These results are not provided by offerHunt.ca and are only indicative based on a repayment mortgage product. Repayments will be subject to the product provided and your circumstances.

P2 Realty Inc. Brokerage

P2 Realty Brokerage

www.offerHunt.ca

Mimmo Galatti, Realtor

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