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Elizabeth Pullman

[email protected] +1(905) 329-0460

Listed by Gordon Springle • Real Estate Homeward

$ 1,295,000

Est. payment -/mo

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Price Dropped by $100K

91 Water Street S Cambridge, ON N1R 3E1

7 Beds

3 Baths

3,259 SqFt

UPDATED:

01/18/2025 07:28 PM

Key Details

Property Type Multi-Family

Sub Type Multi-4 Unit

Listing Status Active

Purchase Type For Sale

Square Footage 3,259 sqft

Price per Sqft $397

MLS Listing ID 40675298

Bedrooms 7

Abv Grd Liv Area 3,259

Originating Board Waterloo Region

Year Built 1890

Annual Tax Amount $3,750

Property Description

Where can you find an investment property that has a monthly cash flow of $2,039 with 20% down or $1,036 with minimum down??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 (6.6% CAP rate), this is truly a rare opportunity. This legal triplex with a 4th bachelor unit cash flows even without the income of the 4th unit! Fully Renovated: Professionally redone top to bottom, ensuring you attract high-quality tenants & minimize future maintenance costs. Nearly everything is NEW, meaning fewer headaches, more peace of mind. Immediate Rental Income: 3 out of 4 units are currently vacant, giving you the flexibility to set market-rate rents right from the start. Unit 3, the smaller 2-bedrm, is already rented at $1,900/month + utilities (current market rate), proving the income potential. Total 5 yr equity position $412k, 10 yr equity $850k, 15 yr equity $1.358m * 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.) 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 5min, Cambridge Bus Terminal 6min, groovy Gaslight District 8min, U of W Cambridge 10min, grocery store12 min - so near to everything without being in the thick of it * By car you are 10min to the 401, 30min 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!

Location

Province ON

County Waterloo

Area 12 - Galt East

Zoning FC1RM1

Direction North of Concession St on Water St South

Rooms

Basement Partial, Unfinished

Kitchen 0

Interior

Interior Features Separate Hydro Meters

Heating Baseboard, Electric, Forced Air, Natural Gas

Cooling None

Fireplace No

Appliance Dryer, Refrigerator, Stove, Washer

Laundry In-Suite

Exterior

Exterior Feature Balcony, Separate Hydro Meters

Parking Features Other

Fence Full

Roof Type Asphalt Shing,Flat,Metal

Porch Patio

Lot Frontage 33.5

Lot Depth 153.0

Garage No

Building

Lot Description Ample Parking, High Traffic Area, Public Parking, Public Transit

Faces North of Concession St on Water St South

Story 2

Foundation Concrete Block

Sewer Sewer (Municipal)

Water Municipal

Structure Type Brick,Vinyl Siding

New Construction No

Others

Senior Community No

Tax ID 038160265

Ownership Freehold/None

Elizabeth Pullman

Advisor | License ID: 4780123

+1(905) 329-0460

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