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$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%
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)
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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.
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.
Confidential diligence documents for 805 ROCKWAY DRIVE, Kitchener.
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.