Description

Rare opportunity to own a Mixed use Core area building with an anchor Franchise tenant leasing the main & lower levels & two 2 bedroom apartments above. Solid, stable income from a Preston landmark property. Features front and rear patios, Staff parking behind rear patio. One residential unit prepared to offer vacant possession if required by the Buyer. (id:66096)

Property Details

MLS®: 40863829
Property Type: Other
Zoning: C1RM2
Interior Size: 3,955 ft²
Frontage: 33 ft
Building Area: 3,955 ft²
Storeys: 0
Basement: Full
Ownership: Freehold
Property Tax: $5,504.95/yr
Listed: 44 days ago

Features

Exterior: Steel, Brick Veneer
Lot Features: Southern exposure, Visual exposure

Services

Water: Municipal water
Sewer: Municipal sewage system

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

44d

Cambridge listings, avg age

57d

Price / ft²

$278

List price

$1.10M

Homes here sell faster than most markets

Sold homes in this market spent an average of 32 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell close to asking price

Homes in this market sold for an average of 99.9 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This other in Cambridge has been listed for 44 days, which is 13 days fresher than the city average of 57. Act while there is still low competition.

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Area context

Neighbourhood profile (N3H)

This home lists at $1,099,900, about 13.4× the local median household income of $82,000.

Carrying it typically needs a household income of about $214,849 (20% down, 25-yr amortization, stress-tested) — roughly 162% above the area median.

Median household income: $82,000
Population: 24,306
Median age: 40.8
Owner / renter: 62% / 38%
Avg. household size: 2.5

Source: Statistics Canada, 2021 Census (FSA N3H)

$1,099,900· $278/ft²

For sale

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Financing

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707 East KING Street East, Cambridge - Other for Sale