This unit is currently tenanted with a lease (5 years) in place until November 2028, and rent escalates annually from $4,350.50/month now to $5,791.25/month in the final year. Net annual income averages ~$40,293 over the next 3.5 years, resulting in a strong ~6.21% cap rate. There is a 5 year renewal option in the lease. Given the location, secure cash flow, and minimal upkeep, this property would appeal greatly to passive investors. Why Invest? - Long-term, escalating lease in place - Low operational burden - Strong rental growth outlook - Located in high-demand core Perfect for hands-off investors seeking passive income and asset appreciation
Royal LePage Wolle Realty
$649,000
116 - 280 Lester Street, Waterloo, Ontario
0 Bedrooms
558 Sqft
Property
MLS® Number: 40759992
Address: 116 - 280 Lester Street
City: Waterloo
Exterior: Concrete
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Property Sale History
Travel and Neighbourhood
80/100Walk Score®
Very Walkable
Location
