128 Pollock Avenue Cambridge, Ontario N1R 2C3

$875,000

Investors, house hackers and families looking to get into a larger space with tons of flexibility, this home has the potential to generate approximately $74,000 in gross annual revenue at an estimated 6.5% cap rate, this is a rare opportunity to secure a high-performing multi-unit property with excellent long-term upside. Situated in a prime location close to restaurants, schools, parks, shopping , and everyday amenities, this is an ideal location for all. Offering two spacious 3-bedroom suites and one well-appointed 2-bedroom suite, this property delivers flexibility, functionality, and impressive income potential all under one roof. Whether you are an owner-occupier looking to have additional units help contribute toward your mortgage and monthly expenses,or an investor seeking a strong addition to your portfolio, this property checks all the boxes. The current upper unit tenants are paying $2,200/month and would like to stay, providing immediate stable income. The main floor and basement units will be vacant on closing, allowing buyers the flexibility to move in, choose their own tenants, or set rents at current market value.The basement suite previously generated $1,700/month,while the main floor unit offers strong rental potential in the $2,400 month range. Extensively updated and well maintained, the home offers peace of mind with a newer water softener, updated electrical panel, sewer lining for root protection, and numerous thoughtful upgrades throughout. The basement layout also offers the flexibility to be opened up and connected to the adjacent unit for additional family living space. Additional highlights include two laundry areas, a large recreation room and dedicated home office in the main unit, parking for up to 6 vehicles, and a highly desirable double car garage. A rare opportunity offering strong cash flow potential, updated condition, and flexible living arrangements. (id:19593)

Property Details

MLS® Number	40832481
Property Type	Single Family
Amenities Near By	Public Transit, Shopping
Equipment Type	Water Heater
Features	Paved Driveway, In-law Suite
Parking Space Total	6
Rental Equipment Type	Water Heater
Structure	Shed

Building

Bathroom Total	4
Bedrooms Above Ground	6
Bedrooms Below Ground	2
Bedrooms Total	8
Appliances	Dryer, Refrigerator, Stove, Water Softener, Washer
Architectural Style	2 Level
Basement Development	Partially Finished
Basement Type	Full (partially Finished)
Constructed Date	1950
Construction Style Attachment	Detached
Cooling Type	Central Air Conditioning
Exterior Finish	Aluminum Siding, Brick
Fireplace Fuel	Wood
Fireplace Present	Yes
Fireplace Total	1
Fireplace Type	Other - See Remarks
Half Bath Total	1
Heating Fuel	Natural Gas
Heating Type	Forced Air
Stories Total	2
Size Interior	5,138 Ft2
Type	House
Utility Water	Municipal Water

Parking

Detached Garage

Land

Acreage	No
Fence Type	Partially Fenced
Land Amenities	Public Transit, Shopping
Sewer	Municipal Sewage System
Size Frontage	128 Ft
Size Total Text	Under 1/2 Acre
Zoning Description	R1

Rooms

Level	Type	Length	Width	Dimensions
Second Level	4pc Bathroom			8'5'' x 7'6''
Second Level	Bedroom			12'0'' x 11'9''
Second Level	Bedroom			10'6'' x 15'4''
Second Level	Bedroom			10'6'' x 16'6''
Second Level	Kitchen			14'6'' x 8'7''
Basement	Laundry Room			7'10'' x 5'0''
Basement	Kitchen			12'0'' x 14'11''
Basement	Family Room			6'9'' x 8'3''
Basement	Bedroom			12'3'' x 11'7''
Basement	Bedroom			12'3'' x 16'6''
Basement	Cold Room			5'5'' x 10'9''
Basement	Office			7'7'' x 4'8''
Basement	Recreation Room			23'0'' x 21'9''
Basement	4pc Bathroom			4'11'' x 7'11''
Main Level	2pc Bathroom			2'10'' x 6'4''
Main Level	4pc Bathroom			8'0'' x 5'10''
Main Level	Bedroom			10'6'' x 12'3''
Main Level	Bedroom			12'0'' x 9'7''
Main Level	Dining Room			8'5'' x 5'11''
Main Level	Kitchen			18'7'' x 8'9''
Main Level	Living Room			24'4'' x 17'1''
Main Level	Primary Bedroom			12'10'' x 19'7''

https://www.realtor.ca/real-estate/29801768/128-pollock-avenue-cambridge