37
660 KING Street E
$1,499,999 Sale
Listed 16 hours ago
· 0
· 0.0
· 0
· 7412
Key Facts
Key facts for 660 KING Street E
Property Type
Other
Parking
Garage: No, 0 parking
MLS #
40767249
Size
7412 sqft
Basement
Full
Listed on
-
Lot size
-
Tax
-
Days on Market
-
Year Built
1931
Maintenance Fee
-
Description
Interest rates are coming down, and this cap-rate is going up! Fantastic investment opportunity in the heart of Preston. With new investment happening all around and a plan for future LRT nearby, this well maintained 7,412 sqft mixed-use building with quality, long term residential and commercial te...nants is a true turn-key opportunity. With mortgage rates continually dropping, this investment currently operates at approx. 6.08% Cap Rate with a market-rate potential closer to 8.59%. With 4 residential units and 2 commercial, this building offers a good mix of income streams with fantastic upside potential. 2- two bedroom units and 2 - one bedroom units on the upper levels. One of the 1-bedroom units will be vacating end of September, allowing market rate for new rent bringing the potential cap rate to 6.66%! Main floor commercial with great street exposure and long term leases. Potential for additional storage income. Equipment is all owned, no rentals. Appliances included. Schedule a viewing today (id:10452)
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Listing courtesy of: RE/MAX SOLID GOLD REALTY (II) LTD.
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