248 MAIN STREET, Cambridge, Ontario, N1R 1X3

MLS® # X12741702

Investment For Sale In Lincoln Oaks, Cambridge, Ontario

$699,000

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248 Main Street, Cambridge, ON - Outdoor

248 Main Street, Cambridge, ON - Outdoor With Exterior

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248 MAIN STREET, Cambridge, Ontario, N1R 1X3

$699,000

Property Information:

Excellent triplex investment opportunity in the heart of East Galt. This solid brick property offers strong income potential in a high-demand rental area close to downtown, transit, parks, shopping, and schools. The property requires updates and improvements to maximize rental potential, and the pricing reflects its current condition, presenting a compelling value-add opportunity for investors looking to enhance performance and build long-term equity. The building is being sold AS IS, WHERE IS. The basement unit is partially finished, not currently rented, and will need to be completed prior to occupancy. There has been water penetration in the basement area that will require remediation, allowing buyers to address the issue and incorporate completion of the space into their renovation plans. Two of the three units are currently tenanted; vacant possession of the tenanted units will be provided on closing. The prominent corner location near Main Street and Lincoln Avenue enhances long-term value and future redevelopment potential. The land containing the detached garage is subject to a severance and is being offered separately on MLS as a land sale. A severance application is currently in progress to create two distinct parcels. This listing relates only to the triplex building and does not include the portion of land proposed to be severed, which is being offered separately at its own list price. All severance details are subject to municipal approval. Please refer to the drawing in supplements for separate lot measurements. This is a rare opportunity to acquire a standalone multi-unit asset with clear upside through renovation, stabilization, or future redevelopment, while distinctly separating two independent real estate offerings. (id:27)

Building Features:

Style: Multiplex
Building Type: Triplex
Basement Development: Finished
Basement Type: N/A, N/A
Exterior Finish: Vinyl siding
Floor Space: 1500 - 2000 sqft
Foundation Type: Poured Concrete
Heating Type: Forced air, Not known, Not known
Heating Fuel: Electric, Natural gas
Cooling Type: None

Property Features:

Property Type: Multi-family
Amenities Nearby: Public Transit
Floor Space (approx): 1500 - 2000 Square Feet
Irregular: Yes
Lot Frontage: 25.54 Metre
Lot Size: 25.5 M ; 25.54 x 17.59 x 21.9 x 24.76 m
Zoning: R4 Residential Low Density
Sewer: Sanitary sewer
Parking Type: No Garage
No. of Parking Spaces: 5

Courtesy of: HomeLife Power Realty Inc

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