1304 -1306 KING Street E

For Sale - $499,900.00

ID#: 28953069

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. (id:42870)