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CAONCambridgeEast Galt248 Main St
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248 Main St, Cambridge, ON

House

For Sale

$X
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236

MLS® 40801221

Overview

Key Facts

Type Single Family Residence
Levels Residential
Size 2146 sqft
Garage Yes
Taxes $5,452
Days Active 72
Lot Size 
Approx. Age 1918
Avg. Price Per Sqft $325
MLS® Number 40801221

Property Address: 248 Main St, Cambridge, ON, N1R1X3

Average square foot calculated using Size range provided by listing agent.

Description

Excellent triplex investment opportunity in the heart of East Galt. This solid brick property offers strong income potential in a high-demand rental area close to downtown, transit, parks, shopping, and schools. The property requires updates and improvements to maximize rental potential, and the pricing reflects its current condition, presenting a compelling value-add opportunity for investors looking to enhance performance and build long-term equity. The building is being sold AS IS, WHERE IS. The basement unit is partially finished, not currently rented, and will need to be completed prior to occupancy. There has been water penetration in the basement area that will require remediation, allowing buyers to address the issue and incorporate completion of the space into their renovation plans. Two of the three units are currently tenanted; vacant possession of the tenanted units will be provided on closing. The prominent corner location near Main Street and Lincoln Avenue enhances long-term value and future redevelopment potential. 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 to create two distinct parcels. This listing relates only to the triplex building and does not include the portion of land proposed to be severed, which is being offered separately at its own list price. All severance details are subject to municipal approval. Please refer to the drawing in supplements for separate lot measurements. This is a rare opportunity to acquire a standalone multi-unit asset with clear upside through renovation, stabilization, or future redevelopment, while distinctly separating two independent real estate offerings.Show Description
MLS® Number40801221
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
GarageYes
Approx. Age1918
BasementDevelopment Potential, Separate Entrance, Full, Finished
DrivewayDetached Garage
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Price History

00/00/0000End Date
$XXX,XXXSold Price
Top Secret
00/00/0000List Date
$XXX,XXXList Price
00/00/0000End Date
$XXX,XXXSold Price
Top Secret
00/00/0000List Date
$XXX,XXXList Price
Apr 14, 2021End Date
-Sold Price

Expired

Apr 5, 2021List Date
$800,000List Price

Home Estimate Zoopraisal®

This property is estimated to sell between: $546,000 and $776,000.
Similar properties in this area sold on average for: $546,086
Expected to sell very soon! Similar properties sold in 29 days. This home has been on Zoocasa for 72 days.

The estimated sale price does not take into account many variables such as recent renovations, type of appliances, school district etc. To get a more accurate estimate please contact agent.

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