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611 W Lancaster Street
114 - Uptown Waterloo/North Ward Kitchener N2K 1M5

$999,900
Residential Income beds: 7 baths: 5.0 built: 1949

Main Photo: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 1: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 2: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 3: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 4: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 5: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 6: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 7: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 8: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 9: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 10: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 11: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 12: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 13: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 14: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 15: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 16: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 17: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 18: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Photo 19: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
Status:
Active
Prop. Type:
Residential Income
MLS® Num:
40579509
Bedrooms:
7
Bathrooms:
5
Year Built:
1949
Stable Income & Growth Potential in Kitchener. This 5-plex in a desirable Kitchener area offers a compelling opportunity for investors seeking a stable income stream with excellent growth potential. The property boasts a healthy 4.5% cap rate and enjoys easy access to highways 85 and 7, allowing tenants convenient commutes around the region and to Guelph. Nearby amenities, parks, schools, and shopping centres further enhance the property's appeal. Adding to its attractiveness, the property backs onto peaceful Creekside land feeding the Grand River, providing a tranquil escape for tenants, helping to boost occupancy and rental potential. The unit mix itself offers two spacious 2-bedroom units, and three functional 1-bedroom units perfect for singles or couples. This 5-plex boasts a well-connected location, a serene setting, and a diversified unit mix, creating a strong foundation for a successful investment. Learn more about the property's income potential and schedule your tour.
Property Type:
Residential Income
Property SubType:
Multi-5 Unit
Year built:
1949 (Age: 75)
Listing General Location:
114 - Uptown Waterloo/North Ward, 1 - Waterloo East
Bedrooms:
7
Bathrooms:
5.0 (Full:-/Half:-)
Lot Details:
139.64 x 50.06
Lot Depth:
139'8"
Lot Frontage:
50'1"
Frontage Type:
West
Kitchens:
0
Elementary School:
St. Teresa, Bridgeport P.S & Margaret Avenue P.S
High School:
St. David C.S.S & Bluevale C.I
County Or Parish:
Waterloo
Taxes:
Features:
Attached Garage: No, Crops Included: No, Garage: No, New Construction: No
Construction:
Metal/Steel Siding
Basement:
Full, Finished
Foundation:
Poured Concrete
Roof:
Flat
Number of Storeys:
2
Number of Buildings:
0
Total Floor Area:
3,491.63 sq. ft.
Finished Area Above Grade:
1,819.89 sq. ft.
Finished Area Below Grade:
1,671.74 sq. ft.
Fireplace:
false
Laundry Features:
None
Water Supply:
Municipal
Sewer:
Sewer (Municipal)
Cooling:
None
Heating:
Forced Air, Natural Gas
Other,5 Refrigerators, 5 Stoves
Refrigerator, Stove
Tenant Belongings & Shed-Belongs To Tenant
Separate Hydro Meters
false
No
Bridge Street to Lancaster Street West
No
Alarm System, Carbon Monoxide Detector(s)
HST Applicable To Sale Price:
No
Association Fee:
Association Fee Frequency:
Association Fee 2:
Association Fee 2 Frequency:
Administrative Fee:
Features:
Attached Garage: No, Crops Included: No, Garage: No, New Construction: No
Road Access Fee:
Electric Expense:
$4,589.4
Insurance Expense:
$3,181.88
Expenses:
Actual
Heating Expense:
$763.7
Net Income:
$44,355.77
Lease to Own Equipment:
None
Leases:
Yes
Under Contract Costs Monthly:
$.00
Zoning:
C4
Total Acres:
6921.19
Lot Site Features:
Rectangular, Highway Access, Public Transit, Schools
Features:
Attached Garage: No, Crops Included: No, Garage: No, New Construction: No
Garage Spaces:
0.0
Parking Places Covered:
0.0
Parking:
Gravel, Other
# Of Total Parking Spaces:
5.0
# Of Open Parking Spaces:
5.0
Driveway Parking:
Front Yard Parking
Num Apartment Units:
0
Num Bachelor Units:
0
Num Efficiency Units:
0
Num Loft Units:
0
Num Other Units:
0
Num Penthouse Units:
0
Num Studio Units:
0
Num Occupied Units:
5
Total Units:
Listed Date:
May 16, 2024
  • Photo 1: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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  • Photo 2: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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  • Photo 3: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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  • Photo 4: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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  • Photo 5: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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  • Photo 6: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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  • Photo 7: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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  • Photo 8: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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  • Photo 9: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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  • Photo 10: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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  • Photo 11: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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  • Photo 12: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
    Photo 12 of 19
  • Photo 13: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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  • Photo 14: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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  • Photo 15: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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  • Photo 16: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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  • Photo 17: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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  • Photo 18: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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  • Photo 19: 611 W Lancaster Street in Kitchener: 114 - Uptown Waterloo/North Ward Multi-5 Unit for sale (1 - Waterloo East)  : MLS®# 40579509
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Listed by DEWAR REALTY INC., BROKERAGE
Data was last updated June 18, 2024 at 07:50 PM (UTC)
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