Description
Kitchener Purpose-Built Rental For Sale or JV! Nearly approved 88-unit (potential 118) project with CMHC MLI Select eligibility. Ideal for market, affordable, senior, or student housing. Estimated $45M build with potential 50-year amortization. Cash/equity as low as ~$2.2M, depending on sponsor net worth and CMHC approval. Site: 0.965 acres, 72,616 SF GFA, 89 parking stalls, 28 bike spaces. Projected $3.15M gross rent, $2.3M NOI, 7% stabilized cap. As-is appraisal $6.8M (July 2024); asking $5M. Prime location near GO, schools, shopping & jobs. Rare chance for secure long-term income.
Details
| MLS # | X12145095 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Price Change |
| Days On Site | 39 |
| Listing Provided By | HOME LEADER REALTY INC. | X12145095 169800 |
Features
| SQ Feet | 41,817 |
|---|---|
| Acreage | 0.96 |
Interior
| Cooling | Yes |
|---|
Taxes
| Property | 9572 |
|---|
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Learn More About This Property
| Province | ON |
|---|---|
| County | Waterloo |
| City | Kitchener |
| Postal Code | N2A |
| Listing VS Median (in N2A) | |
Price: $3,388,888 low | high Med: $3,388,888 SqFt: 41,817 low | high Med: 41,817 $ / SqFt: $81 low | high Med: $81 On site: 39 low | high Med: 39.000000 | |
Listing Updated: June 12, 2025 at 8:52:45 PM PDT
