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$499,900

Cambridge ON, N3H 3R1

MLS® # 40775627

Property Information:

Incredible Investment Opportunity in Downtown Preston, Cambridge! This solid duplex offers two spacious three-bedroom units on a desirable corner lot, making it an excellent option for investors or buyers looking for a flexible living arrangement. Each unit features a bright eat-in kitchen with storage, a generous living area, and convenient walk-out basement access. Upstairs, you’ll find three well-sized bedrooms and a four-piece bathroom. The backyard is fully fenced with access to the parking lot, and each unit is separately metered for hydro, water and gas. Recent improvements add tremendous value, including a 200-amp electrical system (2023), furnace and heat pump (2023), roof and vinyl siding (2022), hot water heater (2020), two new bedrooms in the basements (2023), and two updated three-piece bathrooms on the main level (2023). Both units will be available shortly, with Unit 1306 currently vacant and Unit 1304 vacant by the end of November, giving you the option to set new market rents or customize the property to your needs. Situated just minutes from Highway 401, Conestoga College, shopping, Riverside Park, downtown Preston, and endless walking and biking trails, this property is ideally located for both tenants and owners. With strong income potential of approximately $7,000 per month when fully rented and the possibility to convert to a fourplex, this is a rare opportunity to secure a versatile property in a sought-after location.

Inclusions: None

Building Features:

  • Floor Space: 2016 Square Feet

Property Features:

  • Bedrooms: 6
  • Acres Range: < 0.5
  • Basement: Full, Partially Finished
  • Construction Materials: Vinyl Siding
  • Cooling: None
  • Driveway Parking: Outside/Surface/Open
  • Floor Space (approx): 2016 Square Feet
  • Heating: Forced Air, Natural Gas, Heat Pump
  • Interior Features: Separate Heating Controls, Separate Hydro Meters
  • Laundry Features: Coin Operated, In-Suite
  • Lot Depth: 115 Feet
  • Lot Features: Rectangular, City Lot, Highway Access, Hospital, Library, Park, Place of Worship, Public Transit, Shopping Nearby, Trails
  • Lot Frontage: 38.81 Feet
  • Parking Features: Gravel
  • Roof: Asphalt Shing
  • Water Source: Municipal
  • Zoning: RM3
  • Sewer: Sewer (Municipal)
  • No. of Parking Spaces: 4

Courtesy of: RE/MAX Twin City Realty Inc.

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Potential Investment Performance

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Location of 1304 -1306 King Street E, Cambridge, ON, N3H 3R1

Demographic Information of 1304 -1306 King Street E, Cambridge, ON, N3H 3R1

Life Stage

Young Couples

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$95,922.42

Average Number of Children

1.55

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

24.86 %

High school certificate or equivalent

39.64 %

Apprenticeship trade certificate/diploma

6.15 %

College/non-university certificate

21.78 %

University certificate (below bachelor)

0.6 %

University Degree

6.96 %

Commuter

Travel To Work

By Car

84.79 %

By Public Transit

6.48 %

By Walking

3.88 %

By Bicycle

0.0 %

By Other Methods

4.85 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

44.74 %

Houses

55.26 %

Own Vs. Rent