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660 KING Street E, Cambridge, Ontario

$1,499,999

7 Beds
7 Baths
7,412 Square Feet

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 tenants 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:23309)

Listing ID: 40767242
Property Type: Multi-family
Year Built: 1931

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Details

Amenities Nearby: Airport, Golf Nearby, Park, Place of Worship, Public Transit, Schools
Community Features: High Traffic Area, Community Centre, School Bus
Ownership: Freehold
Parking Spaces: 3
Transaction: For sale
Zoning Description: C1RM2

Building

BasementType: Full (Unfinished)
Basement Development: Unfinished
Constructed Date: 1931
Cooling: Central air conditioning, Wall unit
Exterior Finish: Brick
Fireplace Present: False
Foundation: Poured Concrete
Bathrooms (Total): 7
Heating: Baseboard heaters, Forced air
Heating Fuel: Electric, Natural gas
Size Interior: 7412 sqft
Stories Total: 2
Utility Water: Municipal water

Land

Access Type: Road access, Highway access
Amenities: Airport, Golf Nearby, Park, Place of Worship, Public Transit, Schools
Sewer: Municipal sewage system
Size Frontage: 44 ft

Listing provided by RE/MAX SOLID GOLD REALTY (II) LTD.
MLS®, REALTOR®, and the associated logos are trademarks of the Canadian Real Estate Association.

This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 660 KING Street E in Cambridge Ontario. It was last modified on September 8th, 2025. Contact Lifestyle Real Estate to schedule a viewing or to discover other Cambridge real estate for sale.

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