Innovative Realty Inc.

Brokerage

Kannan Panchalingam

Direct : (647) 928-8889

kannanhomes@yahoo.com

142-146 Fergus Avenue, Kitchener, ON N2A 2H2 (Weber Street East and Fergus Avenue)
$ 3388888 - MLS : X12145095

From Our Gallery

Description

Kitchener Purpose-Built Rental For Sale or JV! Nearly approved 88-unit (potential 118) project with CMHC MLI Select eligibility. Ideal for market, affordable, senior, or student housing. Estimated $45M build with potential 50-year amortization. Cash/equity as low as ~$2.2M, depending on sponsor net worth and CMHC approval. Site: 0.965 acres, 72,616 SF GFA, 89 parking stalls, 28 bike spaces. Projected $3.15M gross rent, $2.3M NOI, 7% stabilized cap. As-is appraisal $6.8M (July 2024); asking $5M. Prime location near GO, schools, shopping & jobs. Rare chance for secure long-term income

Location Description

Weber Street East and Fergus Avenue

Property Detail

Community:
Property Type: Tenant/Commercial
Garages: In/Out
Annual Property Taxes : $ 9572

Lot dimensions: sqft
Baths:

Facts and Features

Parking Type : In/Out

Amenities

Heating : Gas Forced Air Closed
Sewer : Sanitary+Storm ,

Listing Contracted With: HOME LEADER REALTY INC.

Kannan Panchalingam

Sales Representative

( 5 Reviews )

While I like to think that real estate is in my blood, shameless self-promotion is not. Unfortunately, that's part of the business so here's the painful bit about who I am and what makes me tick. The Toronto region has been my home all my life, and I love this area.

kannanhomes@yahoo.com

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