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:4069)
Address
199 AHRENS Street W
List Price
$3,395,000
Property Type
Multi-family
Area
Ontario
Sub-Area
Kitchener
Bedrooms
29
Bathrooms
18
Floor Area
11,309 Sq. Ft.
MLS® Number
40697024
Listing Brokerage
RE/MAX REAL ESTATE CENTRE INC.
Basement Area
Full (Finished)
Postal Code
N2H4E1
Zoning
R5
Site Influences
Public Transit, Schools, Shopping
Features
Laundry- Coin operated
