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$3,388,888
Est. payment /mo
1 SqFt
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
Square Footage 1 sqft
Price per Sqft $3,388,888
MLS® Listing ID X12145095
Lot Size 0.960 Acres
Acres 0.96
Source Toronto Regional Real Estate Board
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. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling Fully air conditioned
Exterior
Parking Features No
View Y/N No
Private Pool No
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Listed by HOME LEADER REALTY INC.