91 Water Street S Cambridge, Ontario N1R 3E1
$1,395,000
Whether you're a house-hacker hunting for the perfect place to live in and grow your wealth or a pure investor looking for an amazing investment vehicle (6% CAP rate), this is truly a rare opportunity. This 4plex means that if you want to move in, you can pick the bachelor or a 2 bedroom or the 3 bedroom * Why this property stands out: Fully Renovated: Professionally redone from top to bottom, ensuring you attract high-quality tenants and minimize future maintenance costs. Nearly everything is NEW, meaning fewer headaches and more peace of mind * Immediate Rental Income: Three out of four units are currently vacant, giving you the flexibility to set market-rate rents right from the start. The third unit, the smaller 2-bedroom, is already rented at $1,900/month plus utilities (current market rate), proving the income potential * Total projected: cash flow of $1,122/mo, total 5 year equity of $600k, 10 year equity $975k, 15 year equity $1.4m * Versatile Layout: The suite configurations offer you diverse rental options. The composition includes one 3-bedroom, two 2-bedrooms, and one bachelor unit. Plus, there's parking for four vehicles at the rear of the property * (House is virtually staged.) The asphalt walkway to the south side of the house will be replaced in September * Amazing location! You've got the Grand River right in front of you with access to lots of walking trails including the famous Cambridge To Paris Rail-Trail, WALK to: Downtown 5 min, Cambridge Bus Terminal 6 min, groovy Gaslight District 8 min, U of Waterloo Cambridge 10 min, grocery store 12 min - so near to everything without being in the thick of it * By car you are 10 min to the 401, 30 min to Hamilton, and an hour to Toronto * No, this one will not be available for long! Grab the brass ring and begin to create generational wealth! **** EXTRAS **** Each unit pays for their own heat & hydro plus one hydro meter for the landlord to pay for the common area usage * House is virtually staged * Concrete walkway on the south side of the house will be replaced in November (id:55026)
Property Details
| MLS® Number | X9285397 |
| Property Type | Single Family |
| Amenities Near By | Public Transit |
| Features | Lane, Paved Yard |
| Parking Space Total | 4 |
| Structure | Patio(s) |
Building
| Bathroom Total | 4 |
| Bedrooms Above Ground | 7 |
| Bedrooms Total | 7 |
| Amenities | Separate Electricity Meters |
| Appliances | Dryer, Refrigerator, Stove, Washer |
| Construction Style Attachment | Detached |
| Exterior Finish | Brick, Vinyl Siding |
| Flooring Type | Laminate |
| Foundation Type | Block |
| Heating Fuel | Electric |
| Heating Type | Baseboard Heaters |
| Stories Total | 2 |
| Type | House |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Fence Type | Fenced Yard |
| Land Amenities | Public Transit |
| Sewer | Sanitary Sewer |
| Size Depth | 33 Ft ,6 In |
| Size Frontage | 153 Ft |
| Size Irregular | 153 X 33.5 Ft |
| Size Total Text | 153 X 33.5 Ft |
| Surface Water | River/stream |
| Zoning Description | Fc1rm1 |
Rooms
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Main Level | Bedroom | 3.7 m | 2.4 m | 3.7 m x 2.4 m |
| Main Level | Bedroom | 2.3 m | 3.5 m | 2.3 m x 3.5 m |
| Main Level | Bedroom 2 | 3 m | 3.6 m | 3 m x 3.6 m |
| Main Level | Bedroom 2 | 3.2 m | 3.5 m | 3.2 m x 3.5 m |
| Main Level | Bedroom 3 | 3.5 m | 3.4 m | 3.5 m x 3.4 m |
| Main Level | Kitchen | 3.3 m | 4.7 m | 3.3 m x 4.7 m |
| Main Level | Living Room | 1.9 m | 4 m | 1.9 m x 4 m |
| Main Level | Bedroom | 3.3 m | 3.5 m | 3.3 m x 3.5 m |
| Main Level | Bedroom 2 | 2.2 m | 3 m | 2.2 m x 3 m |
| Main Level | Laundry Room | 3.7 m | 2.2 m | 3.7 m x 2.2 m |
| Main Level | Kitchen | 3.8 m | 2.2 m | 3.8 m x 2.2 m |
| Main Level | Living Room | 5.5 m | 4 m | 5.5 m x 4 m |
https://www.realtor.ca/real-estate/27350415/91-water-street-s-cambridge
Interested?
Contact us for more information
Gordon Charles Springle
Salesperson
(647) 699-6764
www.thespringleteam.com/
https://www.linkedin.com/in/gordon-charles-springle-2010452a4/
1858 Queen Street E.
Toronto, Ontario M4L 1H1
(416) 698-2090
(416) 693-4284
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September 04 2024 05:00:38
Toronto Real Estate Board
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