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Elizabeth Pullman

[email protected] +1(905) 329-0460

Listed by Terry Riddoch • RE/MAX REAL ESTATE CENTRE INC.

$ 3,795,000

Est. payment -/mo

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Price Dropped by $305K

199 Ahrens Street W Kitchener, ON N2H 4E1

29 Beds

18 Baths

11,309 SqFt

UPDATED:

09/26/2024 04:22 PM

Key Details

Property Type Single Family Home

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 11,309 sqft

Price per Sqft $335

MLS Listing ID 40640163

Bedrooms 29

Abv Grd Liv Area 11,309

Originating Board Waterloo Region

Annual Tax Amount $35,172

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.

Location

Province ON

County Waterloo

Area 2 - Kitchener East

Zoning R5

Direction North on Ahrens from Wilhelm

Rooms

Basement Full, Finished

Kitchen 0

Interior

Interior Features Separate Heating Controls

Heating Natural Gas, Radiant

Cooling None

Fireplace No

Appliance Dishwasher, Dryer, Refrigerator, Stove, Washer

Laundry Coin Operated

Exterior

Waterfront No

Roof Type Flat

Lot Frontage 70.18

Lot Depth 229.0

Garage No

Building

Lot Description City Lot, Public Transit, Schools, Shopping Nearby

Faces North on Ahrens from Wilhelm

Story 3

Foundation Poured Concrete

Sewer Sewer (Municipal)

Water Municipal

New Construction No

Others

Senior Community No

Tax ID 223250142

Ownership Freehold/None

Elizabeth Pullman

Advisor | License ID: 4780123

+1(905) 329-0460

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