For Sale · Multifamily

805 ROCKWAY DRIVE, Kitchener

805 ROCKWAY DRIVE, Kitchener, ON N2G3B6

$749,900 total

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Asset Class

Multifamily

Size

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Building class

B

Zoning

RF6 — Medium Density

$ / SF

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Occupancy

83%

About this property

Amazing turnkey investment opportunity with this fully renovated legal duplex located in the desirable Rockway Gardens area of Kitchener.Whether you're an investor looking for a strong income property or a homeowner wanting a mortgage helper, this property offers flexibility,quality, & long-term value. The duplex features a 3-bedroom, 1-bathroom upper unit & a 1-bedroom + Den, 1-bathroom lower unit. Each unit hasseparate parking, separate utilities, its own storage locker, private laundry, & its own fully fenced backyard space with a deck, providing excellentprivacy for tenants. Completely gutted & renovated in 2022, this property was rebuilt with long-term durability in mind. No expense was sparedduring the renovation, & the home is topped with a steel roof for added peace of mind. The upper unit features luxury vinyl flooring throughout, amodern kitchen with granite countertops, a 4-piece bathroom, 3 bedrooms with a spacious primary bedroom with a large walk-in closet, & itsown laundry room. The lower unit also features luxury vinyl flooring throughout, a kitchen with granite countertops, a den with a built-in desk thatis ideal for a home office or study area, a bedroom, private laundry, & a 3-piece bathroom with heated floors. The furnace, hot water systems,water softeners, electrical panels, & utility equipment are conveniently located in a common utility room for easy access & maintenance.Outside, the property includes 3 surface parking spots, a 1-car garage, 2 private storage lockers, & separate fully fenced backyard spaces foreach unit, making it an attractive option for tenants. Located in the sought-after Rockway Gardens neighbourhood, this property is minutes fromRockway Golf Course, parks, schools, walking trails, Fairview Park Mall, grocery stores, restaurants, public transit, & the ION LRT. Commuters willappreciate the quick access to Highway 7/8 & Highway 401. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$750K
Down payment30% · $225K
Interest rate6.25%
Amortization25 years
Occupancy83%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$23K

Annual cash flow

$-19K

Cash-on-cash

-8.31%

DSCR

0.55

Going-in cap

3.05%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

143,716

Households

51,987

Median income

$134,000

Median age

37.4

Daytime population

161,935

5-yr growth

4.5%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 805 ROCKWAY DRIVE, Kitchener.

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.