558 ft2
$649,000Maintenance,
$549.86 Monthly
This unit is currently tenanted with a lease (5 years) in place until November 2028, and rent escalates annually from $4,350.50/month now to $5,791.25/month in the final year. Net annual income averages ~$40,293 over the next 3.5 years, resulting in a strong ~6.21% cap rate. There is a 5 year renewal option in the lease. Given the location, secure cash flow, and minimal upkeep, this property would appeal greatly to passive investors. Why Invest? - Long-term, escalating lease in place - Low operational burden - Strong rental growth outlook - Located in high-demand core Perfect for hands-off investors seeking passive income and asset appreciation (id:50976)
Property Details
|
MLS® Number
|
40759992 |
|
Property Type
|
Other |
Building
|
Basement Type
|
None |
|
Exterior Finish
|
Concrete |
|
Stories Total
|
1 |
|
Size Exterior
|
558.0000 |
|
Size Interior
|
558 Ft2 |
|
Utility Water
|
Municipal Water |
Land
|
Acreage
|
No |
|
Sewer
|
Municipal Sewage System |
|
Size Total Text
|
Under 1/2 Acre |
|
Zoning Description
|
Nmu-8 |
https://www.realtor.ca/real-estate/28730669/280-lester-street-unit-116-waterloo
