485 Park Street Kitchener, Ontario N2G 1N7
$2,195,000
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! (id:45648)
Property Details
| MLS® Number | 40518651 |
| Property Type | Vacant Land |
| Amenities Near By | Hospital, Public Transit, Schools |
Building
| Basement Type | None |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Land Amenities | Hospital, Public Transit, Schools |
| Sewer | Municipal Sewage System |
| Size Depth | 165 Ft |
| Size Frontage | 90 Ft |
| Size Irregular | 0.361 |
| Size Total | 0.361 Ac|under 1/2 Acre |
| Size Total Text | 0.361 Ac|under 1/2 Acre |
| Zoning Description | I-2, 102u |
Utilities
| Natural Gas | Available |
https://www.realtor.ca/real-estate/26333096/485-park-street-kitchener
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April 20 2024 12:39:44
Kitchener-Waterloo Association of REALTORS®
RE/MAX Twin City Realty Inc., Brokerage, RE/MAX Twin City Realty Inc.
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