Property Information:

Excellent triplex investment opportunity in the heart of East Galt. This solid brick triplex property offers strong income potential in a high demand rental area close to downtown, transit, parks, shopping, and schools. With some TLC, this property offers strong upside through renovations and improved rental performance. Currently tenanted; vacant possession on closing. Prominent corner location near Main Street and Lincoln Avenue adds long-term value and redevelopment appeal. The Land containing the detached garage is subject to a severance and is being offered separately on MLS as a land sale. A severance application is currently in progress, intended to create two distinct parcels. This listing relates only to the triplex building, unless otherwise agreed to by the parties. The property is being offered as is where is. This structure provides investors with multiple strategies, including stable rental income, value add improvements, or future redevelopment potential. A rare opportunity to acquire a standalone multi-unit asset while clearly distinguishing between two separate real estate offerings. All severance details subject to municipal approval. Please refer to the drawing in supplements for separate lot measurements. (id:27)

Building Features:

Style: Multiplex
Building Type: Triplex
Basement Development: Finished
Basement Type: Full
Exterior Finish: Brick, Vinyl siding
Floor Space: 2146 sqft
Foundation Type: Poured Concrete
Heating Type: Forced air
Heating Fuel: Electric, Natural gas
Cooling Type: None

Property Features:

OwnershipType: Freehold
Property Type: Multi-family
Amenities Nearby: Park, Public Transit, Schools, Shopping
Built in: 1918
Floor Space (approx): 2146 Square Feet
Lot Frontage: 51 Feet
Zoning: R4 Low Density Residential
Sewer: Municipal sewage system
Parking Type: Detached garage
No. of Parking Spaces: 6

Courtesy of: HomeLife Power Realty Inc.

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Demographic Information of 248 MAIN Street, Cambridge, Ontario, N1R 1X3

Life Stage

Midlife Families

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$109,537.79

Average Number of Children

1.64

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

21.97 %

High school certificate or equivalent

29.52 %

Apprenticeship trade certificate/diploma

6.22 %

College/non-university certificate

25.95 %

University certificate (below bachelor)

1.2 %

University Degree

15.14 %

Commuter

Travel To Work

By Car

89.28 %

By Public Transit

2.93 %

By Walking

3.21 %

By Bicycle

0.0 %

By Other Methods

4.58 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

32.1 %

Houses

67.9 %

248 MAIN Street, Cambridge, Ontario, N1R 1X3