Description

Located in the heart of downtown Preston, in Cambridge, this well-maintained mixed-use property offers a stable, fully leased investment opportunity. The main floor features approximately 4,000 Sq. Ft. of commercial space, occupied by two long-term tenants, providing reliable income. The second floor includes six residential apartments, adding to the asset's diversified revenue stream. With strong in-place tenancy and immediate availability, this property is ideal for investors seeking a turnkey asset in a vibrant, amenity-rich location. (id:66096)

Property Details

MLS®: 40873159
Property Type: Other
Zoning: C1RM2
Interior Size: 8,000 ft²
Lot Size: 13,068 sq ft (0.30 ac)
Frontage: 67 ft
Building Area: 8,000 ft²
Storeys: 2
Basement: Full
Ownership: Freehold
Property Tax: $27,507.94/yr
Listed: 14 days ago

Features

Foundation: Block
Exterior: Brick
Lot Features: Visual exposure, Paved driveway

Services

Water: Municipal water
Sewer: Municipal sewage system
Utilities: Natural Gas, Electricity, Telephone

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

14d

Cambridge listings, avg age

57d

Price / ft²

$368

List price

$2.94M

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 14 days, which is 43 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 $2,945,000, about 35.9× the local median household income of $82,000.

Carrying it typically needs a household income of about $575,262 (20% down, 25-yr amortization, stress-tested) — roughly 602% 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)

$2,945,000· $368/ft²

For sale

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Financing

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753 KING Street East, Cambridge - Other for Sale