$ 3,595,000
199 AHRENS Street W Kitchener, ON N2H4E1
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$ 3,595,000
Est. payment /mo
Price Dropped by $200K
199 AHRENS Street W Kitchener, ON N2H4E1
29 Beds
18 Baths
11,309 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 11,309 sqft
Price per Sqft $317
Subdivision 212 - Downtown Kitchener/East Ward
MLS® Listing ID 40640163
Bedrooms 29
Originating Board Cornerstone - Waterloo Region
Property Description
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:24570)
Location
State ON
Interior
Heating Radiant heat,
Cooling None
Exterior
Garage No
Waterfront No
View Y/N No
Total Parking Spaces 16
Private Pool No
Building
Story 3
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by RE/MAX REAL ESTATE CENTRE INC.