ATTENTION VALUE-ADD INVESTORS! This purpose built sixplex currently consists of large 2 bedroom units generating $83k/yr in gross income. With a design to renovate and optimize this property adding 4 additional units, this property could generate over $211k/yr in gross income. This project is also a great opportunity to take advantage of the CMHC MLI Select program offering competitive interest rates and 40+yr amortizations. As per Bill 23 in Ontario any projects 10 units and under are exempt from site-plan approval. This project has not yet applied for permit but preliminary discussions with the city have been positive. Buyer to do their own due diligence. Reach out today for more information and for current and projected financials.
MLS# | 40671216 |
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Listing Type | For Sale |
Style | Town House |
Sub-Type | Resale |
Status | Active |
Year | 1969 |
Days On Site | 8 |
Listing Provided By | Flux Realty | Matt Phipps |
Bed(s) | 12 |
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Bath(s) | 6 |
SQ Feet | 4,112 |
Basement | Y |
Story(s) | 2 |
Units | 6 |
Zoning | R6 |
Province | ON |
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County | Waterloo |
City | Kitchener |
Postal Code | N2M 2C5 |
Area | 3 Kitchener West |
Subarea | 323 Victoria Hills |
Community Name | 323 Victoria Hills |
Listing VS Median (in 323 Victoria Hills) | |
Price: $1,390,000 low | high Med: $618,500 SqFt: 4,112 low | high Med: 1,072 $ / SqFt: $338 low | high Med: $577 On Site: 8 low | high Med: 180.000000 |