Sold on Feb 07, 2025
Note: Property is not currently for sale or for rent.
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Type: Multiplex
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Style: Other
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Lot Size: 50.06 x 139.64 Feet
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Age: 51-99 years
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Taxes: $4,900 per year
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Days on Site: 99 Days
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Added: Oct 31, 2024 (3 months on market)
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Updated:
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Last Checked: 2 hours ago
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MLS®#: X10407959
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Listed By: Dewar realty inc.
Stable Income & Growth Potential in Kitchener. Make an offer on this well-priced 5-plex, currently generating $61,000 annually with a solid 5% cap rate, presents a rare opportunity for investors looking for more than just a standard duplex or triplex. Located in a highly sought-after area of Kitchener, this property offers both stable income and the potential for substantial equity growth through strategic upgrades, rental increases, and possibly adding another storey. With convenient access to Hwy 7, Bridgeport Rd, and University Ave, this property ensures easy commutes for tenants, reducing vacancy concerns and enhancing long-term rental demand. The unit mix, featuring two 2-bedroom units and three 1-bedroom units, caters to a variety of tenant profiles, increasing flexibility and occupancy potential. For savvy investors, this property presents an attractive blend of current cash flow and future appreciation, making it a competitive investment with more upside than other multi-unit properties that are currently available. Schedule a tour today and explore the possibilities of turning this 5-plex into a high-performing asset in your portfolio.
Status
Days on Market: 99
Last Status: Sold
Sold Date: Feb 07, 2025
Closed Date: Feb 20, 2025
Expiry Date: Apr 30, 2025
Sold Price: $750,000
Unavailable Date: Feb 10, 2025
Input Date: Nov 05, 2024
Property
Status: Sale
Property Type: Multiplex
Style: Other
Age: 51-99
Area: Kitchener
Availability Date: Flexible
Assessment Amount: $385,000
Assessment Year: 2024
Inside
Bedrooms: 7
Bathrooms: 5
Kitchens: 5
Rooms: 27
Den/Family Room: No
Air Conditioning: None
Fireplace: No
Central Vacuum: N
Washrooms: 5
Building
Basement: Finished
Heat Type: Forced Air
Heat Source: Gas
Exterior: Metal/Side
Water Supply: Municipal
Special Designation: Unknown
Parking
Driveway: Front Yard
Garage Type: None
Covered Parking Spaces: 5
Total Parking Spaces: 5
Fees
Tax Year: 2024
Tax Legal Description: PT LT 2 EBY & DEVITT'S SURVEY PL 577 KITCHENER AS IN 864579; KIT
Taxes: $4,900
Land
Cross Street: Bridge Street E
Municipality District: Kitchener
Fronting On: West
Parcel Number: 223430310
Pool: None
Sewer: Sewers
Lot Depth: 139.64 Feet
Lot Frontage: 50.06 Feet
Acres: < .50
Zoning: C4
Somewhat Walkable
- Some errands can be accomplished on foot.
Some Transit
- Most errands require a car.
Somewhat Bikeable
- Most errands require a car.
St Teresa Catholic Elementary School
Elementary: CatholicPrueter Public School
Elementary: PublicSt Agnes Catholic Elementary School
Elementary: CatholicMargaret Avenue Public School
Elementary: PublicBridgeport Public School
Elementary: PublicSt Matthew Catholic Elementary School
Elementary: CatholicRosemount - U Turn School
Secondary: PublicSt David Catholic Secondary School
Secondary: CatholicKitchener Waterloo Collegiate and Vocational School
Secondary: PublicBluevale Collegiate Institute
Secondary: PublicWaterloo Collegiate Institute
Secondary: PublicCameron Heights Collegiate Institute
Secondary: Public-
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