416 Lancaster Street W Active Save Request In-Person Tour Request Virtual Tour
Kitchener,ON N2H 4V9
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 18,000 sqft
Price per Sqft $246
MLS Listing ID 40758467
Abv Grd Liv Area 18,000
Annual Tax Amount $45,051
Property Sub-Type Multi Family
Source Cornerstone
Property Description
Exceptional 21-unit multi-residential investment property in Kitchener with a current NOI of $243,341, reflecting a strong 5.48% cap rate on asking price. Suite mix: 1 bachelor, 12 one-bedroom, and 8 two-bedroom apartments, many with updated kitchens and baths. Gas fireplaces in each unit serve as a primary heat source, supplemented by electric baseboard heating. Tenants enjoy on-site parking and proximity to major transportation routes, retail, and amenities. Professional management in place. HST is in addition to the purchase price where applicable. Confidential rent roll and P&L available with executed attached CA.
Location
Province ON
County Waterloo
Area 1 - Waterloo East
Zoning R2
Direction Off highway 7, Lancaster Street W & Union St
Rooms
Basement Full,Partially Finished
Kitchen 0
Interior
Interior Features Built-In Appliances,Separate Heating Controls,Separate Hydro Meters
Heating Baseboard,Electric,Fireplace(s),Natural Gas
Cooling None
Fireplace Yes
Appliance Water Softener,Hot Water Tank Owned
Laundry Coin Operated,Common Area
Exterior
Parking Features Attached Garage
Garage Spaces 3.0
Roof Type Flat
Lot Frontage 122.0
Garage Yes
Building
Lot Description Pie Shaped Lot,Highway Access,Hospital,Park,Schools
Faces Off highway 7, Lancaster Street W & Union St
Story 4
Sewer Sewer (Municipal)
Water Municipal
Structure Type Brick
New Construction No
Others
Senior Community No
Tax ID 223030187
Ownership Freehold/None
Virtual Tour https://youtu.be/xsRZDvuy9KQ