660 KING Street E

About this home.

Rates are coming down and this cap-rate is going up! Currently operating at approx. 6.88% cap-rate with market potential closer to 8.73% - it's hard to find buildings cash flowing like this one! This fantastic investment opportunity is 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 tenants is a true turn-key opportunity. 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. The Main floor commercial offers 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:59491)

The full record.

How this listing prices against Preston North.

Preston North was one of Cambridge's busier lower-priced neighbourhoods, with 11 sales and 15 active listings over the past 30 days. The average sale price was $586,545, well below the city average, and homes sold in 21.73 days, almost in line with the wider market. Sales closed at 95.87% of list, which is a softer pricing result and shows buyers are finding room to negotiate. Freeholds moved reasonably well, while condos were much cheaper and much slower.

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