15 Mowat Boulevard, Kitchener, Ontario
$2,170,000 - For Sale
Rare, 20 Unit Low-Rise Apartment Building. Concrete and brick construction. Central Kitchener location â€“ easy walk to Laurentian Hills Plaza, and big box stores at Laurentian Mall. Quick access to expressway. Building mix of 16 one bedrooms, 3 two bedrooms, 1 bachelor.
Loaded with upgrades with recent cap ex including: steel roof (2012), new boiler (2014), balcony sliding doors (2012), back flow prevention (2014), masonry brick work on patios/sidewalk (2015), two washing machines (2015), water heater (2016), new parking lot asphalt (2017), eavestroughs/fascia (2018).
Stable building with long term tenants. Building has not had a tenant turnover in over a year.
Upswing is available for patient investor by increasing rents to market on re-rental, charging for parking, utilizing attached double car garage for paid storage, submetering and through unit modernization/tenant repositioning.
Investor Work Sheet available that shows how this property can work for you!
Invest in one of Canadaâ€™s perennially best towns to invest in!
- Property Type:Residential
- Lot Size:Irregular
- Acreage:Under 0.5 Acres
- Sewage Type:Sewer
- Structure Type:12+ Units
- Square Footage:15661
- Heating Type:Gas, Radiant
- Exterior Type:Aluminum Siding, Brick