199 Ahrens Street W Kitchener, Ontario N2H 4E1
$3,795,000
Prime investment opportunity with this very well maintained 16-unit apartment building, ideally situated on a 0.436-acre lot in a peaceful residential neighborhood. This purpose-built complex features a diverse unit mix, including three spacious 3-bedroom/1-bath units, twelve 2-bedroom/1-bath units, and one 1-bedroom/1-bath unit. The property presents substantial potential for revenue growth. Investors can capitalize on additional income streams through the introduction of parking fees, utility recapture, and rent increases upon unit turnover. Moreover, building permits are pending to add four net new units by reconfiguring the lower level’s three bed, one bed, laundry and storage room into eight one bed units, significantly boosting rental income. Six of the units have already undergone complete renovations, featuring modern upgrades such as new flooring, kitchens, bathrooms, breaker panels, and the addition of dishwashers and in-suite laundry. (id:53282)
Property Details
| MLS® Number | 40640163 |
| Property Type | Multi-family |
| AmenitiesNearBy | Public Transit, Schools, Shopping |
| EquipmentType | Water Heater |
| Features | Laundry- Coin Operated |
| ParkingSpaceTotal | 16 |
| RentalEquipmentType | Water Heater |
Building
| BathroomTotal | 18 |
| BedroomsTotal | 29 |
| BasementDevelopment | Finished |
| BasementType | Full (finished) |
| CoolingType | None |
| ExteriorFinish | Brick |
| FoundationType | Poured Concrete |
| HeatingFuel | Natural Gas |
| HeatingType | Radiant Heat |
| StoriesTotal | 3 |
| SizeInterior | 11309 Sqft |
| UtilityWater | Municipal Water |
Land
| Acreage | No |
| LandAmenities | Public Transit, Schools, Shopping |
| Sewer | Municipal Sewage System |
| SizeDepth | 229 Ft |
| SizeFrontage | 70 Ft |
| SizeTotalText | Under 1/2 Acre |
| ZoningDescription | R5 |
https://www.realtor.ca/real-estate/27367447/199-ahrens-street-w-kitchener
Interested?
Contact us for more information
Terry Riddoch
Broker
720 Westmount Rd.
Kitchener, Ontario N2E 2M6
Irfan Gillani
Salesperson
720 Westmount Rd.
Kitchener, Ontario N2E 2M6
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September 19 2024 11:38:38
RE/MAX Real Estate Centre Inc.