For Sale · Multifamily

62 OLD CHICOPEE Drive, Kitchener

62 OLD CHICOPEE Drive, Kitchener, ON N2A2G2

$799,000 total

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Asset Class

Multifamily

Size

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Building class

A

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

89%

Year Built

1968

Lot Size

0.16 ac

About this property

Rare Legal Triplex in the Heart of Chicopee! This well-located property offers a fantastic opportunity for investors or buyers looking for flexible multi-unit living. Featuring three self-contained units, each with its own kitchen and full bathroom, this property provides excellent versatility and income potential. The finished lower level offers a living area, kitchen, 2 bedrooms and a 3-piece bathroom. The main and upper levels each feature a full kitchen, 3 bedrooms and a 4-piece bathroom. With three separate entrances and parking for up to five vehicles, the property is designed for convenient multi-unit living. Tenants pay their own hydro, while the property also features shared coin-operated laundry for added income potential. Ideally located in an established Kitchener neighbourhood, close to parks, schools, shopping, transit, and major amenities. A rare opportunity to own a legal triplex with three independent living spaces—whether you are expanding your investment portfolio or looking for a flexible property with future potential, you won't want to miss it. (id:66811)

Financial sandbox

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Estimate
Purchase price$799K
Down payment30% · $240K
Interest rate6.25%
Amortization25 years
Occupancy89%
Expense growth2.5%

Monthly debt service

$4K

Projected NOI

$32K

Annual cash flow

$-12K

Cash-on-cash

-5.20%

DSCR

0.72

Going-in cap

3.98%

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

52,237

Households

19,032

Median income

$126,000

Median age

37

Daytime population

60,607

5-yr growth

9.2%

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

Secure deal room

Confidential diligence documents for 62 OLD CHICOPEE 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.