30 Dickson Street & 38 Ainslie Street North

Overview

30 Dickson Street & 38 Ainslie Street North is a three-storey mixed-use property on a prominent corner in downtown Cambridge, combining 19 residential units with three retail spaces totalling approximately 4,813 square feet.

Colliers is pleased to present the opportunity to acquire 30 Dickson Street and 38 Ainslie Street North, a mixed-use investment property occupying a prominent corner in Cambridge's historic downtown neighbourhood. Situated on a single 0.14-acre parcel with frontage on both streets, the three-storey building combines 19 residential rental units with three retail spaces totalling approximately 4,813 square feet. Originally constructed in 1923, the property has benefited from approximately $795,000 in ownership-reported capital expenditures, including residential renovations, shared kitchen and bathroom improvements, roofing work, window replacements, common-area upgrades, and fire and security systems. The residential component comprises nine self-contained apartments and 10 rooming-house-style units with shared kitchens and bathrooms. An attractive existing mortgage carries a 4.00% interest rate with a June 1, 2033 maturity, representing approximately 90.2% of the purchase price at asking, meaning a purchaser approved to assume the loan requires only approximately $372,000 in purchase-price equity.

Investment Highlights

• Prominent downtown corner with frontage on both Dickson Street and Ainslie Street North
• 19 residential units plus three retail spaces totalling ~4,813 SF
• Approximately $795,000 in ownership-reported capital expenditures
• Assumable 4.00% mortgage maturing June 1, 2033 — ~90.2% of purchase price at asking
• Only ~$372,000 in purchase-price equity required at asking
• On-site laundry and partial hydro cost recovery from tenants