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For Sale · Multifamily

161 DAVID STREET, Kitchener

161 DAVID STREET, Kitchener, ON N2G1Y3

$1.6M total

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Asset Class

Multifamily

Size

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Building class

C

Zoning

RF6 — Medium Density

$ / SF

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Occupancy

99%

About this property

Turnkey income property in one of Kitchener's most sought-after neighbourhoods. This fully renovated legal fourplex at 159-161 David Street sits steps from Victoria Park and generates $98,400 in gross annual income with an NOI of $83,900 - all at market rents with confirmed tenancy. Every detail has been executed to the highest standard: custom oak cabinetry, quartz countertops, gold hardware, frameless glass showers, and designer Hardwood flooring throughout. Each of the four self-contained units features its own heat pump, in-suite laundry, and private outdoor space. Separate hydro meters, new plumbing, new electrical, and new windows and doors throughout mean zero deferred maintenance and minimal landlord exposure. The unit mix - a 3-bed, a 2-bed, and two 1-beds - offers excellent tenant diversity and rental resilience. The building retains its handsome historic brick character while delivering a fully modern interior experience. An exceptionally rare opportunity to acquire a performing, pride-of-ownership asset in a neighbourhood where quality properties almost never come available. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$1.60M
Down payment30% · $480K
Interest rate6.25%
Amortization25 years
Occupancy99%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$84K

Annual cash flow

$-5K

Cash-on-cash

-0.96%

DSCR

0.95

Going-in cap

5.25%

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

42,220

Households

14,840

Median income

$106,500

Median age

33.4

Daytime population

65,105

5-yr growth

6.2%

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

Secure deal room

Confidential diligence documents for 161 DAVID STREET, 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.