Space
Finished area and layout
- Building Area
- 0.458 ac
+19 more
0.458 ac
Building Area
0.458
Lot
Property Snapshot
Key details for this listing
MLS #X13859440
Property
Type, style and structure
- Type
- commercial
- Style
- investment / Mixed Use
- Ownership
- Freehold
Lot
Land, frontage and setting
- Lot
- 0.458
About This Property
This investment in Kitchener offers 0.458 ac of building area on a 0.458 lot. The property has zoned R2. The home features partial.
MLS Remarks
Opportunities of this calibre rarely come to market. For investors seeking a genuinely turnkey multifamily acquisition with minimal near-term capital exposure, proven stability and long-term positioning in the heart of Kitchener-Waterloo, one of Ontario's most dynamic rental markets-81 Kenwood Drive stands apart. Offered at a compelling 5.6% CAP RATE, 81 Kenwood Drive is an exceptionally well-cared-for 16-unit apartment building where capital has been proactively deployed, nothing has been left to chance and the pride of ownership is evident. The building combines the character and oversized layouts of a 1960s-built asset with the confidence and ease of modern, proactive ownership. The desirable mix of 2x1bd, 8x2bd and 6x3bd suites provides remarkably spacious, open-concept layouts that cannot be economically replicated in most new construction, helping drive strong demand and consistent occupancy. Set on almost half an acre, the property features 28 parking spaces with potential for up to 32-approaching an extraordinary 2:1 ratio. What truly distinguishes this asset is its exceptional condition, including extensively renovated suites, completely rebuilt balconies (2022), new exterior door systems (2025), upgraded common areas with slip-resistant tile and rubber stair treads, modern security with intercom, keyless entry and high-resolution cameras, copper plumbing and electrical throughout, and diligently maintained life-safety systems. Equally impressive is the building's operating history: strong tenant satisfaction, a smoke-free environment and, according to ownership, no rental non-payment, LTB proceedings or tenant disputes throughout their tenure. 81 Kenwood represents a rare combination of scale, stability, quality and long-term upside-a truly dialed-in, institutional-quality multifamily investment in one of Canada's fastest-growing technology and post-secondary markets. No trespassing or access to the property is permitted without prior vendor consent. (id:60351)
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