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.
Details
X12741702
5
$699,000
Tenant
None
3 + 3
2 1/2 Storey
4
3
1500-2000 Sqft
N/A Acres
100+
Triplex
Sale
Additional details
Forced Air / Electric
R4 Residential Low Density
$5452
2026
PT LT 12 PL D8 CAMBRIDGE AS IN 1278389; CAMBRIDGE
N/A
N
Separate Entrance,Development Potential,Finished
None
Arts Centre,Public Transit,Place Of Worship
Municipal
Schools Nearby
Mortgage Calculator
Total Amount
Down Payment
Loan Term
Interest Rate
Down Payment
Loan Amount
Monthly Mortgage Payment
Land Transfer Tax
CMHC
FAQ
What is the total square footage of the X12741702 - 248 Main Street, Cambridge, ON N1R 1X3?
The total square footage of this property is 1500-2000 SqFt.
What schools near to X12741702 - 248 Main Street, Cambridge, ON N1R 1X3?