Fantastic investment opportunity in the heart of Preston. A well-maintained mixed-use building with quality, long term residential and commercial tenants make this a true turn-key future. Current cap rate approx 5.6% with a market rate closer to 8% after future tenant turnover. With 4 residential units and 2 commercial, this building offers a good mix of income streams with great upside potential. 2 - two bedroom units and 2 - one bedroom units on the upper levels. Main floor commercial with great street exposure and long-term leases. Potential for additional storage income. Parking for 3 vehicles out back. Schedule a viewing today! (id:47423)
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Detailed Information
Lot
44 x 0 ft
Amenities Nearby
Airport, Hospital, Public Transit, Schools
Communication Type
High Speed Internet
Community Features
High Traffic Area
Features
Visual exposure, Paved driveway
Listing Contract Date
2024-04-04
Location Description
King St
Ownership Type
Freehold
Property Type
Office
Transaction Type
For sale
Zoning Description
C1RM2
Building
Basement Type
Full
Construction Material
Concrete block, Concrete Walls
Exterior Finish
Brick, Concrete
Fire Protection
Alarm system
Foundation Type
Poured Concrete
Stories Total
2
Size (Exterior)
7412
Utility Water
Municipal water
Utilities
Type
Description
Electricity
Available
Natural Gas
Available
Telephone
Available
Land
Total Size
under 1/2 acre
Access Type
Road access, Highway access
Amenities
Airport, Hospital, Public Transit, Schools
Sewer
Municipal sewage system
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