58 Madison Avenue N,Kitchener, ON N2H2Z6
Kitchener, ON N2H2Z6
Description
Discover Madison Place at 58 Madison Ave, a turnkey 12-unit income property strategically positioned in Kitchener's high-demand rental corridor. Fully renovated in 2015, this meticulously maintained asset blends classic charm with modern, investor-ready upgrades. Every suite features newly installed PEX plumbing, fully rewired electrical systems with updated sub-panels, energy-efficient windows, and commercial-grade fire-rated doors and stairwells. The building's mechanicals are equally impressive, including a north-side tankless boiler (2021), a reliable south-side boiler, and a durable galvanized steel roof installed just 15 years ago. Financially, Madison Place delivers immediate, stable cash flow with $17,473.92 in monthly in-place rents. Operating expenses are strategically minimized through individually metered hydro, tenant-paid electric baseboard heating, and flat-rate hydro inclusions in select units. With 12 self-contained one-bedroom suites, a common coin-operated laundry room, and 10 dedicated parking spots, the property offers a highly efficient, low-maintenance profile ideal for passive investors or scaling landlords seeking immediate yield. Located minutes from ION light rail, downtown Kitchener, University of Waterloo, and major healthcare hubs, this asset sits in a proven rental demand zone with sustained population growth and constrained multi-family inventory. This is a rare opportunity to acquire a fully refreshed, cash-flowing building with negligible near-term capital expenditure required. Secure your position in one of Ontario's most resilient real estate markets (id:13843)
Details
| MLS # | X13485394 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 121 |
| Listing Provided By | COLDWELL BANKER THE REAL ESTATE CENTRE | ERIC FREY |
Features
| SQ Feet | 8,712 |
|---|---|
| Zoning | SGA-2 |
| Acreage | 8712.00 |
Interior
| Cooling | None |
|---|---|
| Heating | Radiator |
| Fireplace Yes / No | No |
Utilities
| Water Source | Municipal water |
|---|
Taxes
| Tax Annual Amount | 30351 |
|---|---|
| Tax Year | 2025 |
Area Information
| Province | ON |
|---|---|
| City | Kitchener |
| Postal Code | N2H2Z6 |
| Listing VS Median (in N2H2Z6) | |
Price: $2,499,000 low | high Med: $1,250,325 sqft: 8,712 low | high Med: 4,639 $ / sqft: $287 low | high Med: $145 On site: 121 low | high Med: 71.5 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | Kitchener |
| Postal Code | N2H2Z6 |
| Listing VS Median (in N2H2Z6) | |
Price: $2,499,000 low | high Med: $1,250,325 sqft: 8,712 low | high Med: 4,639 $ / sqft: $287 low | high Med: $145 On site: 121 low | high Med: 71.5 | |