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1305-1309 King Street E - NEWLY RENOVATED TRIPLEX FOR SALE ON PRIME CORNER IN PRESTON. THIS UNIT IS FULLY TENANTED AND PRODUCES SOLID MONTHLY CASH FLOW. CURRENTLY YIELDS A 5.0% CAP RATE. THIS SITE IS 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. OVER $150,000 SPENT IN RENOVATIONS ON THIS PROPERTY INCLUDING BRAND NEW FRIDGES, STOVES AND NEW HOT WATER TANK IN UNIT 1305.

Property Details

  • ID: 30648299
  • Status: Active
  • New Construction: No
  • Neighbourhood: Preston North
  • Property ID: 101312015
  • Storeys: 2
  • Living Area: 4,500
  • School District: Waterloo Region District School Board
  • Style: 2-Storey
  • Parking Type Description: Other 4 cars
  • County: Waterloo

Features

Air Conditioning Type No
Drive Surface/Open
Exterior Stone, Concrete
Features Area Influences Public Transit, Park, Hospital
Features Interior Carpet Free
Fire Protection Smoke Detector, Carbon Monoxide Detector
Foundation Stone
Garage Type None
Heat Source Gas
Heat Type Forced Air
Laundry Access None
Other Water - Municipal, Use - Residential, Type - Attached/Row/, Style - 2 Storey, Sqft Source - Other, Sq Ft Range - 4001 To 5000, Sewers - Sewer (Municipal), Recreational Use Y/N - 0, Property Type - Multi-Residential, Property Sub Type - 3 Units, Pool Type - None, Ownership Type - Freehold, Occupancy - Tenant, Number Washers - 3, Number Total Units - 3, Number Stoves - 3, Number Refrigerators - 3, Number Microwaves - 0, Number Dryers - 3, Number Dishwashers - 0, Number 3 Bedroom Units - 3, Lot Shape - Rectangular, Lot Front - 66.00, Lot Depth - 165.00, Location - Urban, Leases Y/N - 1, Laundry Y/N - 1, Income Potential Y/N - 1, Inclusions - 3 Furnaces, 3 Hot Water Heaters, 3 Fridges, 3 Stov, Fireplace Stove Operational - 0, Exclusions - All Tenant Belongings, Elevator Y/N - 0, Basement Y/N - 1, Basement Size - Partial Basement, Basement Finish - Unfinished, Air Conditioning - None, Acres Range - < 0.5
Parking Drive Gravel
Roof Type Asphalt Shingle
Soil Type Clay
Under Contract None
Listed By Cory Devilliers of CENTURY 21 Heritage House Ltd., Brokerage*