5-plex plus detached home on half acre on Grand River
30/4/2021 – 500 views
Two buildings on a half acre near Trans Canada highway and 50 minutes west of Toronto.
The first building is over 6000 square feet containing five units. There are four three bedroom units with about 1100 square feet with hardwood floors, open concept and gas fireplace. Separate entrance and deck. The top floor is a 1600 square foot penthouse that overlooks the Grand River. It is also open concept with hardwood floors and a gas fire place. All units are self contained and they each have there own heating and hot water heaters. The rents are 950 for the three bedrooms and 980 for the penthouse. Tenants pay for their own heat and hydro.
There is a separate house on this half acre property that contains two bedrooms and 1200 square feet. Rent for the house is 950 a month but could be rented for up to 1200 per month. There is a coin operated washer and dryer for use of all tenants.
The property is located less than a minute from the 401 highway making access to several cities very easy.
There are walking trails across the road along the river......very easy to put a small boat into the river.
The property is in the country but minutes from Cambridge, Kitchener and Waterloo. ( home of many computer companies (RIM) and Toyota)
Cambridge is in the Golden Triangle and the Golden Horseshoe region. The area is designated as a PLACE TO GROW under provincial act to encourage grow and business to the Waterloo Region.
The property is a 100 year old heavy timber construction and was brought up to current building codes in 1989 with a total renovation including redesign, wiring, plumbing, insulation, drywall, new windows and doors, hardwood floors and gas fireplaces.
Property grosses over $70,000 annually and shows about a 6.2 % cap rate.
This is a rare property and excellent investment. The property has been owned for over 30 years and is now being sold due to retirement
price is 899,000.00 Canadian Dollars
- Neighborhood
- Living Area
- Levels
- Lot size
- Year Built
- Taxes
- Property Features
- country location on Grand River
- 6000 square feet
- 3
- half acre
- 1890
- 6,700
- A five unit building and a single family detached home on half acre overlooking the Grand River in a growing community. Near the Toyota Auto Plant, University of Waterloo, Rim or blackberry and less than an hour from Toronto and next to the Trans Canada Highway......Less than two hours from the Niagara Falls border to United States and four hours from the Sarnia / Detroit border.
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