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115 Kraft Avenue, Kitchener, On Ave N 15 Unit Apartment Building $3,350,000 CAD ($223,333 CAD/Unit) Kitchener, ON N2A 2J2
Investment Highlights
- VTB Available: Vendor is willing to do a 2-Year VTB up to 75% LTV, subject to mutually agreeable terms
- Strong rental upside, with current average rents approximately $449 below market levels
- One Bachelor, One 1-Bedroom, and Thirteen 2-Bedroom Suites
Executive Summary
Excellent opportunity for multi-family investors to acquire a 15-suite apartment building with strong value-add potential. The property includes 1 bachelor suite, 1 one-bedroom suite, and 13 predominantly two-bedroom suites, with approximately half recently renovated, appealing to a broad tenant base and supporting strong cash flow. Ideally located directly off Highway 8 and just minutes from the 401, with access from two streets and ample parking, the building offers exceptional convenience and exposure near local amenities. With rents currently below market, there is significant upside through strategic renovations and tenant turnover, making this a rare opportunity to secure a stable, income-producing asset with long-term growth potential.
Property Facts
| Price | $3,350,000 CAD | Building Class | C |
| Price Per Unit | $223,333 CAD | Lot Size | 0.48 AC |
| Sale Type | Investment | Building Size | 15,200 SF |
| No. Units | 15 | Average Occupancy | 86% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1969 |
| Apartment Style | Low-Rise | Parking Ratio | 1.18/1,000 SF |
| Zoning | RES-5 - Low Rise Residential 5 Zone | ||
| Price | $3,350,000 CAD |
| Price Per Unit | $223,333 CAD |
| Sale Type | Investment |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 15,200 SF |
| Average Occupancy | 86% |
| No. Stories | 3 |
| Year Built | 1969 |
| Parking Ratio | 1.18/1,000 SF |
| Zoning | RES-5 - Low Rise Residential 5 Zone |
Amenities
Site Amenities
- Controlled Access
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 1 | - | - |
| 2+1 | 13 | - | - |
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
50/100
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115 Kraft Avenue, Kitchener, On Ave N
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