Rare downtown Cambridge four-plex investment offering stable income and exceptional tenant amenities. This fully occupied property generates over $77,000 in gross annual income with an approximate 5.76% cap rate, making it an attractive addition to an investor’s portfolio. The building consists of four well-sized 2-bedroom, 1-bath units, each with its own private single-car garage, a feature rarely found in comparable multi-unit properties and highly valued by tenants. Each unit enjoys equal access to a private rear patio, while the property provides common laundry facilities and additional on-site parking. The property benefits from steady tenants, contributing to reliable and consistent rental income. Another key highlight is the C1RM1 zoning, which permits a range of commercial and mixed-use uses in addition to residential, offering flexibility for investors seeking future repositioning opportunities, redevelopment potential, or owner-occupancy with a business component, subject to municipal approvals. Situated steps from public transit and minutes from Downtown Galt, the property is close to restaurants, shops, the Gaslight District, the University of Waterloo School of Architecture, the Cambridge Farmers’ Market, Mill Race Park, and the Grand River, all of which help support strong tenant demand. A compelling opportunity for investors seeking stable cash flow today with long-term upside through flexible zoning and a downtown location. (id:4069)
Address
42 MARKET Street
List Price
$819,900
Property Type
Multi-family
Type of Dwelling
Multi-family
Transaction Type
Sale
Area
Ontario
Sub-Area
Cambridge
Bedrooms
8
Bathrooms
4
Floor Area
3,520 Sq. Ft.
Year Built
1967
MLS® Number
40810206
Listing Brokerage
RE/MAX REAL ESTATE CENTRE INC. BROKERAGE-3
| RE/MAX REAL ESTATE CENTRE INC., BROKERAGE
Basement Area
None
Postal Code
N1R3T2
Zoning
C1RM1
Site Influences
Hospital, Place of Worship, Playground, Public Transit, Schools, Shopping
Features
Paved driveway, Laundry- Coin operated
