199 Ahrens Street W Kitchener, Ontario N2H 4E1
$4,100,000
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:59646)
Property Details
| MLS® Number | 40640163 |
| Property Type | Multi-family |
| Amenities Near By | Public Transit, Schools, Shopping |
| Equipment Type | Water Heater |
| Features | Laundry- Coin Operated |
| Parking Space Total | 16 |
| Rental Equipment Type | Water Heater |
Building
| Bathroom Total | 18 |
| Bedrooms Total | 29 |
| Basement Development | Finished |
| Basement Type | Full (finished) |
| Cooling Type | None |
| Exterior Finish | Brick |
| Foundation Type | Poured Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Radiant Heat |
| Stories Total | 3 |
| Size Interior | 11309 Sqft |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Land Amenities | Public Transit, Schools, Shopping |
| Sewer | Municipal Sewage System |
| Size Depth | 229 Ft |
| Size Frontage | 70 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | R5 |
https://www.realtor.ca/real-estate/27367447/199-ahrens-street-w-kitchener
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September 05 2024 05:28:28
Kitchener-Waterloo Association of REALTORS®
RE/MAX Real Estate Centre Inc.
