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$ 3,690,000
Est. payment | /mo
$ 3,690,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID X12145095
Annual Tax Amount $9,572
Tax Year 2024
Property Sub-Type Land
Property Description
Kitchener Purpose-Built Rental For Sale or JV! Nearly approved 88-unit (potential 118) project with CMHC MLI Select eligibility. Ideal for market, affordable, senior, or student housing. Estimated $45M build with potential 50-year amortization. Cash/equity as low as ~$2.2M, depending on sponsor net worth and CMHC approval. Site: 0.965 acres, 72,616 SF GFA, 89 parking stalls, 28 bike spaces. Projected $3.15M gross rent, $2.3M NOI, 7% stabilized cap. As-is appraisal $6.8M (July 2024); asking $5M. Prime location near GO, schools, shopping & jobs. Rare chance for secure long-term income.
Location
Province ON
County Waterloo
Area Waterloo
Interior
Cooling Yes
Exterior
Utilities Available Yes
Lot Frontage 127.4
Lot Depth 331.7
Listed by HOME LEADER REALTY INC.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "