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. (id:61078)
| MLS® Number | X12145095 |
| Property Type | Vacant Land |
| Neigbourhood | Stanley Park |
| Cooling Type | Fully Air Conditioned |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Size Interior | 1 Acres |
| Utility Water | Municipal Water |
| Acreage | No |
| Size Depth | 331 Ft ,8 In |
| Size Frontage | 127 Ft ,4 In |
| Size Irregular | 0.96 |
| Size Total | 0.96 Ac |
| Size Total Text | 0.96 Ac |
| Zoning Description | R3 |
https://www.realtor.ca/real-estate/28305804/142-146-fergus-avenue-kitchener
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