107 East Avenue

Nestled in the heart of Kitchener, at 107 East Avenue, this remarkable Multi-Family Home for sale in Kitchener presents an exceptional investment opportunity. This two-storey multiplex is situated in a vibrant neighbourhood, offering a blend of comfort and potential for those looking to expand their real estate portfolio. With its prime location at the intersection of Frederick and East, this property is perfectly positioned to attract tenants and provide a steady income stream.

The property boasts a total of five bedrooms and four bathrooms, making it an ideal choice for families or groups seeking spacious living arrangements. The layout includes a main floor two-bedroom unit, which is currently tenanted, ensuring immediate rental income. Additionally, there is a two-bedroom upper unit, also tenanted, and a one-bedroom upper unit that features a private deck, providing a lovely outdoor space for relaxation. The one-bedroom basement unit is currently vacant, offering the new owner the flexibility to either occupy it or rent it out for additional income. This makes the Multi-Family Home for sale in Kitchener a versatile option for both seasoned investors and those new to the property market.

The exterior of the building is a charming combination of brick and vinyl siding, giving it a classic yet contemporary appeal. The property is set on a generous 40 x 120 feet corner lot, which not only enhances its curb appeal but also provides ample outdoor space for tenants to enjoy. Although there is no pool or fireplace, the outdoor area can be transformed into a delightful garden or recreational space, adding value to the property. The absence of air conditioning and central vacuum systems is compensated by the home's overall layout and the potential for personalised upgrades.

Inside, the property features a total of 15 rooms, including three kitchens—an excellent asset for a multi-family dwelling. The additional kitchen further enhances the functionality of the space, making it convenient for tenants to prepare meals. The finished full basement offers extra living space, which can be utilised for storage or transformed into a communal area for tenants. With no family room included, the layout focuses on maximising the number of bedrooms and kitchens, catering to the needs of multiple families living under one roof.

Parking is another significant advantage of this Multi-Family Home for sale in Kitchener. With an attached garage that accommodates two vehicles and a private double driveway providing space for four additional cars, tenants will appreciate the convenience of ample parking. This feature is particularly valuable in a bustling area like Kitchener, where parking can often be a challenge.

The property is connected to municipal water and sewer systems, ensuring reliable utilities for all tenants. Although the building is unfurnished, this allows new owners the freedom to personalise the space according to their preferences or the demands of future tenants. The age of the property, being between 51 to 99 years, adds character and charm, while the potential for renovations can significantly increase its value.

In summary, 107 East Avenue, Kitchener, is a well-maintained Multi-Family Home for sale in Kitchener that offers a fantastic investment opportunity. With its strategic location, spacious layout, and multiple units, this property is a perfect addition to any investment portfolio or a stepping stone for those venturing into real estate. The combination of tenanted units and the potential for rental income from the vacant basement unit makes this an enticing prospect. Don't miss out on the chance to own this versatile property in a thriving community—this Multi-Family Home for sale in Kitchener is waiting for you!

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, catering to families with children of various ages. The closest school is Suddaby Public School, just 0.7 km away, offering elementary education in both English and French for grades JK to 6, with a respectable school rating of 5.9. For older children, Margaret Avenue Senior Public School (1.4 km) serves grades 7 to 8, although it currently has no rating. Cameron Heights Collegiate Institute, located 1.3 km away, provides secondary education for grades 9 to 12 and boasts a commendable rating of 7.7. Additionally, Kitchener-Waterloo Collegiate and Vocational School is 2.8 km from the property, offering a French curriculum for secondary students with a rating of 7. The area also features Catholic schools, such as St. Teresa Catholic Elementary School (1.8 km) and St. Anne Catholic Elementary School (0.5 km), both offering strong educational programs in English and French. Overall, this neighborhood provides a diverse range of quality educational options, making it an attractive choice for families seeking a supportive learning environment for their children.

Key Statistics of the Neighbourhood

The area surrounding the property boasts a population of 456 residents, with an average household size of 2.3 individuals. The demographic profile indicates a mature community, with an average age of 49.3 years. Economic indicators reveal a robust average household income of $112,000, with only 7.2% of the population classified as low-income. The real estate market reflects this affluence, with average property prices around $680,000. The community is predominantly single, comprising 51.9% of the population, while 40.91% of households include children, suggesting a family-friendly environment. Additionally, 8.11% of residents are immigrants, contributing to the area's diversity. Renters make up 28.13% of the population, although there are no condominiums available in the area. Education levels are notably high, with 71.93% of residents holding a college or university degree. However, a significant portion of the population, 29.82%, is not in the labor force, indicating potential economic challenges. Overall, this community presents a blend of stability, education, and family-oriented living, making it an attractive location for prospective homeowners.