Property Information:

A RARE OPPORTUNITY TO OWN A PROPERTY FEATURING THREE LEGAL UNITS in a friendly, established neighbourhood. Whether you're looking for the perfect multi-generational setup, a mortgage helper, or a turnkey investment, this versatile property offers exceptional flexibility. The main level features a bright, open-concept living and dining area filled with natural light, three generously sized bedrooms, and a full bathroom, creating a comfortable space to call home. The finished lower level is a fully self-contained two-bedroom suite complete with its own kitchen, offering privacy and independence for extended family or rental income. Adding even more value is the detached legal one-bedroom accessory dwelling unit, complete with its own kitchen, bathroom, and in-suite laundry, providing a completely separate living space for family, guests, or tenants. Situated on one of the larger lots in the neighbourhood, measuring approximately 52' x 109', the fully fenced backyard offers generous outdoor space for everyone to enjoy. Ideally located on a quiet street close to schools, parks, shopping, public transit, the ION LRT, and major highways, convenience is right at your doorstep. Recent updates include new flooring throughout, custom built-in cabinetry, a 200-amp electrical service, and an on-demand water heater (2021). Live in the spacious main unit while the two additional legal units help offset a significant portion of your monthly living expenses, create an ideal multi-generational living arrangement where everyone can enjoy their own private space, or take advantage of the property’s full investment potential with projected rental income of approximately $5,600 per month ($67,200 annually). Vendor Take-Back financing is available with a minimum 30% down payment, providing additional flexibility for qualified buyers. With a projected cap rate of over 6%, this is a rare opportunity for both owner-occupiers and investors in today’s market. (id:27)

Building Features:

Style: Triplex
Building Type: Triplex
Basement Development: Finished
Basement Type: Full
Exterior Finish: Brick
Floor Space: 1927 sqft
Foundation Type: Poured Concrete
Heating Type: Forced air
Heating Fuel: Natural gas
Cooling Type: Central air conditioning
Appliances: Water softener

Property Features:

OwnershipType: Freehold
Property Type: Multi-family
Bedrooms: 6
Bathrooms: 3
Access Type: Highway access
Amenities Nearby: Public Transit, Schools, Shopping
Built in: 1958
Community Features: Community Centre
Features: Paved driveway
Fence Type: Fence
Floor Space (approx): 1927 Square Feet
Lot Depth: 110 Feet
Lot Frontage: 52 Feet
Structure Type: Shed, Porch
Zoning: RES 2
Sewer: Municipal sewage system
No. of Parking Spaces: 4

Courtesy of: Chestnut Park Realty Southwestern Ontario Limited, Chestnut Park Realty Southwestern Ontario Ltd., Brokerage

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Demographic Information of 88 WOODHAVEN Road, Kitchener, Ontario, N2C 1V1

Life Stage

Young Couples

Employment Type

Service Sector/White Collar

Average Household Income

$89,626.24

Average Number of Children

1.76

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

21.17 %

High school certificate or equivalent

31.36 %

Apprenticeship trade certificate/diploma

6.54 %

College/non-university certificate

20.55 %

University certificate (below bachelor)

1.65 %

University Degree

18.73 %

Commuter

Travel To Work

By Car

81.56 %

By Public Transit

11.76 %

By Walking

3.27 %

By Bicycle

0.45 %

By Other Methods

2.96 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

46.0 %

Houses

54.0 %

88 WOODHAVEN Road, Kitchener, Ontario, N2C 1V1