$3,995,900

Investment For Sale In City Core, Cambridge, Ontario

$3,995,900

Property Information:

PURPOSE BUILT COMMERCIAL AND RESIDENTIAL BUILDING in the heart of picturesque Downtown Galt steps to the Grand River and Cambridge Mill, Waterscape Towers and future developments. 12,363 sq ft sitting on approximately 1/3 acre of prime land. Main floor commercial unit (3800 sq ft currently vacant) projected rent $52,500 per annum plus tmi. 12 furnished apartments (1 bedroom each designed as accessible units) serviced by an elevator with 6 apartments on each floor and coin operated laundry facilities on each floor. 16 onsite parking spaces. All leases are month to month. This unique building has been the primary “short stay residence” of Cambridge with repeat occupants. Many local corporations regularly lease units. Immaculately maintained in exceptional condition. The owner has cared for this building with pride. A steel roof covers the building. Each residential unit has independent heat, water heaters and wall air conditioners. Average rent per unit is $1850 per month including utilities, cable, and Wi-Fi. Biweekly housekeeping offered upon request. This is an opportunity to participate in the regeneration of the downtown core and enjoy the evolution. Projected 6% cap-rate, this is the perfect investment. Income and expenses available to qualified buyers.

Inclusions: OTHER

Property Features:

  • Bedrooms: 12
  • Acres Range: < 0.5
  • Basement Type: None
  • Construction Materials: Brick, Stone
  • Cooling: Central Air, Wall Unit
  • Features Area Influences: Downtown, Library, Park, Place of Worship, Public Transit, Quiet Area, River/Stream, Schools, Shopping Nearby, Trails
  • Floor Space (approx): 12363.00 Square Feet
  • Foundation Detail: Concrete Block
  • Heating: Baseboard, Electric, Electric Hot Water, Forced Air, Gas
  • Interior Features: Elevator, Water Heater Owned
  • Laundry Features: Coin Operated, Shared
  • Lot Depth: 144.82 Feet
  • Lot Frontage: 112.07 Feet
  • Parking Features: Asphalt
  • Roof: Metal
  • Security Features: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Water Source: Municipal
  • Zoning: RES/OFFICE
  • Sewer: Sewer (Municipal)
  • No. of Parking Spaces: 16

Courtesy of: RE/MAX TWIN CITY FAISAL SUSIWALA REALTY

Data provided by: Cambridge Association of REALTORS® Inc. 2040 Eagle St. N., Cambridge, Ontario N3H 0A1
All information displayed is believed to be accurate but is not guaranteed and should be independently verified. No warranties or representations are made of any kind. Copyright© 2021 All Rights Reserved