- What A Kitchener apartment building is on the market for $7.1m
- Why A private investor is looking to offload the 36-unit building
- What next Keller Williams Innovation Realty has the listing
A rental apartment building in Kitchener, Ont., is on the market with an asking price of $7.1m.
Listed by a private investor, the low-rise building at 36 Talbot Street comprises 36 units and sits on nearly 1 acre of land. Keller Williams Innovation Realty is marketing the property.
Built in 1965, the 30,000 sq ft building features 24 one-bedroom units, 10 two-bedroom units and two studio apartments. Each above-ground unit has a balcony, and the property has 33 parking spots.
Due to the building being older, marketing materials note, there is significant rental upside upon tenant turnover.
The property is in Kitchener’s Cherry Hill neighbourhood and is 2 km from the Kitchener GO station. It is less than 5 km from the University of Waterloo and less than 4 km from Wilfrid Laurier University.
The Kitchener region has seen some action in the multifamily market this year. Last month, Genesis Mortgage Investment, Dorr Capital and Elm Acquisitions Corp. agreed to pay upward of $67m for a partially complete, four-tower residential development at 1333 Weber Street East.
This summer, Greybrook picked up a master-planned development site in Cambridge for $25m, and Starlight in May included apartment buildings in Kitchener and Waterloo as part of a 26-property portfolio listing.
