6% CAP RATE! PURPOSE-BUILT THREE-UNIT property located in the sought-after Lackner Woods neighbourhood of Kitchener. This cash-flowing gem brings in $7,000 per month in rental income, offering a 6% cap rate and approximately $1,000/month in positive cash flow! Featuring two massive 3-bedroom units at 1,150 sq ft each, and a bright, updated 1-bedroom lower-level unit, this property is ideal for both investors or owner-occupiers looking to have their mortgage paid by tenants. Each unit is thoughtfully updated and includes new granite countertops, open-concept layouts, vinyl flooring, and access to outdoor spaces including private balconies, a private patio, and a shared backyard. The basement unit has a new kitchen and plenty of natural light. Tenants pay all utilities including hydro, and each unit has separate hydro meters along with its own driveway for private parking. The property also boasts a full 2-car garage, parking for 4 more vehicles in the main driveway, plus a brand-new driveway (2024) for an additional 2 cars. Recent upgrades include a new boiler (2021), chimney liner (2021), electrical (2013), owned water heater (2022), and owned water tank (2020). This turn-key investment property is walking distance to shopping, parks, schools, and amenities making it the perfect blend of location, income, and lifestyle. (id:4069)
Address
35 SHAFTSBURY DRIVE
List Price
$1,199,900
Property Type
Multi-family
Type of Dwelling
Duplex
Area
Ontario
Sub-Area
Kitchener
Bedrooms
7
Bathrooms
3
Floor Area
20,002,500 Sq. Ft.
Lot Size
65 x 111 FT Sq. Ft.
MLS® Number
X12073669
Listing Brokerage
Forest Hill Real Estate Inc.
Basement Area
N/A (Finished)
Postal Code
N2A1N4
Zoning
RES-4
Amenities
Separate Electricity Meters
