248 Main Street Cambridge, Ontario N1R 1X3

$699,000

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. 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. The property is being offered as is where is. (id:42776)

Property Details

MLS® Number	X12741702
Property Type	Multi-family
Amenities Near By	Public Transit, Place Of Worship
Parking Space Total	5

Building

Bathroom Total	3
Bedrooms Above Ground	4
Bedrooms Total	4
Age	100+ Years
Basement Development	Finished
Basement Features	Separate Entrance
Basement Type	N/a, N/a (finished)
Cooling Type	None
Exterior Finish	Brick Facing, Vinyl Siding
Foundation Type	Poured Concrete
Heating Fuel	Electric, Natural Gas
Heating Type	Forced Air, Not Known
Stories Total	3
Size Interior	1,500 - 2,000 Ft2
Type	Triplex
Utility Water	Municipal Water

Parking

No Garage

Land

Acreage	No
Land Amenities	Public Transit, Place Of Worship
Sewer	Sanitary Sewer
Size Frontage	25.54 M
Size Irregular	25.5 M ; 25.54 X 17.59 X 21.9 X 24.76 M
Size Total Text	25.5 M ; 25.54 X 17.59 X 21.9 X 24.76 M
Zoning Description	R4 Residential Low Density

https://www.realtor.ca/real-estate/29305258/248-main-street-cambridge