199 AHRENS Street W, Kitchener, Ontario
$3,595,000
- 29 Beds
- 18 Baths
- 11,309 Square Feet
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:23309)
- Listing ID: 40640163
- Property Type: Multi-family
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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 199 AHRENS Street W in Kitchener Ontario. It was last modified on September 5th, 2024. Contact Dan Bonany to schedule a viewing or to discover other Kitchener real estate for sale.