267 Traynor Ave
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267 Traynor Ave
18 Unit Block of Flats £2,561,048 (£142,280/Unit) 4.90% Net Initial Yield Kitchener, ON N2C 1W7
Investment Highlights
- Turn-key rental with no reasonably foreseeable capital expenditures in short to mid-term.
- Tenants benefit for on-site laundry, storage and bike room
- Each unit has own balcony or outside terrace
Executive Summary
The Subject Property consists of a purpose built 18 unit apartment building on a 0.575 acre lot. Unit break-down is 17 Two Bed / One Bath
units and 1 newly constructed (completion August 2024) One bed / One bath unit. The building offers tenants on-site laundry, storage units and bicycle storage.
Since 2021, Gross Annual Income has increased by 66% through an above average tenant turn-over rate coupled with the repositioning of
units as well as the introduction of parking surcharges. The property’s track record would seem to indicate an opportunity for future owners to continue significant increases to revenue.
8 of the 18 units are newly renovated including flooring, kitchens and bathrooms.
The Subject Property is located in a very attractive area in terms of investment that will appeal to Tenants with easy access to public transportation, including the Region’s Light Rail Transit (LRT) system, schools and various other amenities including a regional shopping mall, the expressway (to 401), a variety of grocery stores, restaurants, drug stores, medical and dental as well as other shopping opportunities.
units and 1 newly constructed (completion August 2024) One bed / One bath unit. The building offers tenants on-site laundry, storage units and bicycle storage.
Since 2021, Gross Annual Income has increased by 66% through an above average tenant turn-over rate coupled with the repositioning of
units as well as the introduction of parking surcharges. The property’s track record would seem to indicate an opportunity for future owners to continue significant increases to revenue.
8 of the 18 units are newly renovated including flooring, kitchens and bathrooms.
The Subject Property is located in a very attractive area in terms of investment that will appeal to Tenants with easy access to public transportation, including the Region’s Light Rail Transit (LRT) system, schools and various other amenities including a regional shopping mall, the expressway (to 401), a variety of grocery stores, restaurants, drug stores, medical and dental as well as other shopping opportunities.
Property Facts
| Price | £2,561,048 | Building Class | C |
| Price Per Unit | £142,280 | Lot Size | 0.58 AC |
| Sale Type | Investment | Building Size | 17,934 SF |
| Net Initial Yield | 4.90% | Number of Floors | 3 |
| No. Units | 18 | Year Built | 1975 |
| Property Type | Residential | Parking Ratio | 1/1,000 SF |
| Property Subtype | Apartment |
| Price | £2,561,048 |
| Price Per Unit | £142,280 |
| Sale Type | Investment |
| Net Initial Yield | 4.90% |
| No. Units | 18 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.58 AC |
| Building Size | 17,934 SF |
| Number of Floors | 3 |
| Year Built | 1975 |
| Parking Ratio | 1/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 18 | - | - |
| 1+1 | 1 | - | - |
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Walk Score ®
Very Walkable (79)
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Presented by
Terry Riddoch Personal Real Estate Corporation
267 Traynor Ave
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