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$ 2,499,000
Est. payment | /mo
1 Bed
1 Bath
8,750 SqFt
$ 2,499,000
Est. payment | /mo
1 Bed
1 Bath
8,750 SqFt
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Approx. Sqft 8750
Square Footage 8,750 sqft
Price per Sqft $285
Subdivision 212 - Downtown Kitchener/East Ward
MLS® Listing ID 40842342
Bedrooms 1
Property Sub-Type Freehold
Property Description
Discover Madison Place at 58 Madison Ave, a turnkey 12-unit income property strategically positioned in Kitchener's high-demand rental corridor. Fully renovated in 2015, this meticulously maintained asset blends classic charm with modern, investor-ready upgrades. Every suite features newly installed PEX plumbing, fully rewired electrical systems with updated sub-panels, energy-efficient windows, and commercial-grade fire-rated doors and stairwells. The building's mechanicals are equally impressive, including a north-side tankless boiler (2021), a reliable south-side boiler, and a durable galvanized steel roof installed just 15 years ago. Financially, Madison Place delivers immediate, stable cash flow with $17,475 in monthly in-place rents. Operating expenses are strategically minimized through individually metered hydro, tenant-paid electric baseboard heating, and flat-rate hydro inclusions in select units. With 12 self-contained one-bedroom suites, a common coin-operated laundry room, and 10 dedicated parking spots, the property offers a highly efficient, low-maintenance profile ideal for passive investors or scaling landlords seeking immediate yield. Located minutes from ION light rail, downtown Kitchener, University of Waterloo, and major healthcare hubs, this asset sits in a proven rental demand zone with sustained population growth and constrained multi-family inventory. This is a rare opportunity to acquire a fully refreshed, cash-flowing building with negligible near-term capital expenditure required. Secure your position in one of Ontario's most resilient real estate markets (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Cooling None
Exterior
Parking Features No
Community Features High Traffic Area, Community Centre
View Y/N No
Attached Garage No
Total Parking Spaces 12
Garage No
Private Pool No
Building
Story 3
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by Coldwell Banker The Real Estate Centre
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