173 Days on Market

491 Park St, Kitchener, Ontario N2G 1N7

$2,195,000
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Detached
3
1
~1210 sqft

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Highlights

Estimated Value$579,000*

Price/Sqft$1,814/sqft

Days On Market173 days

Est. Mortgage$9,427/mth

Tax Amount (2023)$3,446/yr

*Last updated on: 24/05/17

Description

Attention all investors! PROPOSED SGA2 ZONING. BUILD UP TO 8 STORIES. This exceptional investment opportunity awaits in the heart of Kitchener-Waterloo's vibrant Midtown area. Situated directly behind the renowned Grand River Hospital, these 3 income-producing properties (485 PARK ST, 491 PARK ST, 61 MT HOPE) are bundled together, providing a prime investment package that can't be missed. Whether you wish to hold, enhance, or explore future redevelopment options, this offering is brimming with potential. Currently occupied by tenants, these 3 properties boast a steady stream of rental income. Additionally, the opportunity to lease the 4th unit, presently utilized for storage, further adds to the revenue-generating potential. Notably, the local zoning (I-2) & planning regulations encourage increased density & the construction of residential units, positioning this property as a lucrative prospect for development. Enviably located within close proximity to Belmont Village, & a host of other thriving areas, including the vibrant Uptown Waterloo are all within walking distance, providing unparalleled urban convenience. Its exceptional location positions you just a stone's throw away from the convenient LRT, ensuring seamless & effortless commuting. Furthermore, a plethora of thriving businesses, such as Sun Life, vibrant shopping destinations, charming boutiques, & delectable restaurants, awaits you within easy reach, creating a vibrant & dynamic atmosphere for both work & leisure. Don't miss out on this remarkable investment opportunity, as it offers the perfect combination of an exceptional location, income potential, & future possibilities. Secure your stake in the heart of Kitchener-Waterloo's flourishing landscape today!


Property Details

StyleTwo Story
View-
Age of property-
SqFt~1210 SqFt
Lot Size4,620 SqFt(132 x 35)
Parking Spaces5
MLS ®Number40518606
Community NameKw Hospital
Board NameITSO

Features

Heating: Forced Air, Natural Gas
Cooling: Central Air
Basement: Full, Unfinished

Main Floor

Kitchen

3.43 x 2.92

Dining Room

3.43 x 3.33

Family Room

4.06 x 3.43


Features

Lot size: 4,620 SqFt
Sewer (Municipal)

Parking

Garage spaces -

Garage type -

Total parking spaces 5


Property History

Now
Listed for$2,195,000
173 days on market
history photo preview9
Nov 20, 2023
Listed for$650,000Terminated
147 days on market
history photo preview9
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Property listed by RE/MAX TWIN CITY REALTY INC., BROKERAGE, Brokerage

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