Description
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. 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 projected: cash flow of $1,122/mo, total 5 yr equity of $600k, 10 yr equity $975k, 15 yr equity $1.4m * For the house hacker: If you occupy the bachelor unit, here's the new math as of Dec 15: Minimum down $115k = mtg $1,280,000 4.25%/30 year = $6,269/mo. $8,000 income - bachelor@ $1,500 = $6,500 net income - $6269 mortgage = $231 cash flow. * 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 on 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 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!
Highlights
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
Property Details
- Community:
- City: Cambridge
- Property Type: Residential
- Style: Detached(2-Storey)
- Bedrooms: 7
- Bath: 4
- Garages: None (0.0 Space)
Features
- Exterior: Brick
- Heating: Baseboard , Electric
- Sewer/Water Systems: Sewers , Municipal
Rooms
| Room | Level | Dimensions | Features |
|---|---|---|---|
| Br | Main | 2.40m X 3.70m | Laminate, , |
| 2nd Br | Main | 3.50m X 3.20m | Laminate, Closet, |
| 3rd Br | Main | 3.40m X 3.50m | Laminate, , |
| Kitchen | Main | 4.70m X 3.30m | Laminate, , |
| Living | Main | 4.00m X 1.90m | Laminate, , |
Listing Contracted With: REAL ESTATE HOMEWARD
