Property Description for 416 LANCASTER Street W
Exceptional 21-unit multi-residential investment property in Kitchener with a current NOI of $243,341, reflecting a strong 5.48% cap rate on asking price. Suite mix: 1 bachelor, 12 one-bedroom, and 8 two-bedroom apartments, many with updated kitchens and baths. Gas fireplaces in each unit serve as a primary heat source, supplemented by electric baseboard heating. Tenants enjoy on-site parking and proximity to major transportation routes, retail, and amenities. Professional management in place. HST is in addition to the purchase price where applicable. Confidential rent roll and P&L available with executed attached CA. (id:38686)
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Property Details
Property Tax
: $45,051MLS® #
: 40758467
Home Features
Property Type
: MultiFamilySquare Footage
: 18,000 SQFTSubdivision
: 114 - Uptown Waterloo/North Ward
Interior Features
Heating
: Baseboard heaters, Electric, Natural gasBasement
: Partially finished, Full
Utilities
Sewer
: Municipal sewage system
Other
Parking Features
: Attached GarageExterior Features
: Brick
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