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

C

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

93%

Year Built

1950

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 has separate parking, separate utilities, its own storage locker, private laundry, & its own fully fenced backyard space with a deck, providing excellent privacy for tenants. Completely gutted & renovated in 2022, this property was rebuilt with long-term durability in mind. No expense was spared during the renovation, & the home is topped with a steel roof for added peace of mind. The upper unit features luxury vinyl flooring throughout, a modern kitchen with granite countertops, a 4-piece bathroom, 3 bedrooms with a spacious primary bedroom with a large walk-in closet, & its own laundry room. The lower unit also features luxury vinyl flooring throughout, a kitchen with granite countertops, a den with a built-in desk that is 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 for each unit, making it an attractive option for tenants. Located in the sought-after Rockway Gardens neighbourhood, this property is minutes from Rockway Golf Course, parks, schools, walking trails, Fairview Park Mall, grocery stores, restaurants, public transit, & the ION LRT. Commuters will appreciate 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
Occupancy93%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$31K

Annual cash flow

$-10K

Cash-on-cash

-4.53%

DSCR

0.75

Going-in cap

4.18%

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

88,307

Households

34,999

Median income

$84,500

Median age

43.9

Daytime population

113,862

5-yr growth

0.7%

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.