280 Lester Street Unit# 116, Waterloo, Ontario N2L 3W5 (28390075)

$719,999

Maintenance,

$549.86 Monthly

Commercial Condo in great location close to the University of Waterloo. 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 ~$41,930 over the next four years, resulting in a strong ~5.82% 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 on it? 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 (id:59911)

Property Details

Building

Land