$699,999

For sale

59 Cherry Street, Kitchener - Multi-family for Sale

59 Cherry Street, Kitchener, Ontario, N2G2C7

4 beds3 baths6 parking1,750 ft²40 × 166 ft (6,640 sq ft) lot sizeListed 27 days ago

Overview

This multi-family property in Kitchener is for sale offering roughly 1,750 sq ft of space. It has been on the market 27 days, fresher than the Kitchener average of 53 days.

Multi-Family Properties for Sale in Kitchener →All real estate in Kitchener →

Description

Attention investors, multi-generational families, and savvy house-hackers! Welcome to 59 Cherry Street perfectly situated in Kitchener's historic and highly desirable Cherry Hill/Mill-Courtland neighbourhood. Perfectly suited for multi-generational families, house-hackers, or long-term investors, this property seamlessly blends vintage warmth with rare development upside; long-term rental income, or a unique short-term boutique destination. Boasting an incredible 9.2/10 "Biker's Dream" rating and an ultra-walkable score, the home offers a lifestyle of pure convenience. Inside, the versatile layout is set up as a live-in mortgage helper or a high-yield investment, with the added bonus of a spacious, unfinished attic awaiting your creative touch-perfect for a future primary retreat, studio, or loft. Outside, the deep backyard offers the unique and lucrative potential to build an additional garden suite, providing a clear path for future expansion or an entirely separate income stream This property delivers the perfect balance of 1920s nostalgia and modern financial opportunity. (id:66096)

Property Details

MLS®: X13875316
Property Type: Multi-family
Zoning: R-4
Bedrooms: 4
Beds (above / below): 4 above · 0 below
Bathrooms: 3
Parking: 6
Interior Size: 1,750 ft²
Lot Size: 40 × 166 ft (6,640 sq ft)
Frontage: 40 ft
Storeys: 2
Basement: Finished, Separate entrance, N/A, N/A
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Detached Garage, Garage
Property Tax: $4,780/yr
Listed: 27 days ago

Features

Appliances: Washer, Refrigerator, Stove, Dryer, Microwave, Freezer, Hood Fan
Foundation: Block
Exterior: Brick, Aluminum siding

Services

Water: Municipal water
Sewer: Sanitary sewer
Utilities: Sewer, Electricity, Cable

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

27d

Kitchener listings, avg age

53d

Price / ft²

$400

List price

$700K

Homes here sell faster than most markets

Sold homes in this market spent an average of 31 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell close to asking price

Homes in this market sold for an average of 100.7 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This 4-bed multi-family in Kitchener has been listed for 27 days, which is 26 days fresher than the city average of 53. Act while there is still low competition.

Set a price alert Book a showing

Listed by SUTTON GROUP-ASSOCIATES REALTY INC. · ISABEL FERNANDES-CUNHA

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N2G)

This home lists at $699,999, about 11.2× the local median household income of $62,400.

Carrying it typically needs a household income of about $136,734 (20% down, 25-yr amortization, stress-tested) — roughly 119% above the area median.

Median household income: $62,400
Population: 14,580
Median age: 38
Owner / renter: 31% / 69%
Avg. household size: 1.8

Source: Statistics Canada, 2021 Census (FSA N2G)

$699,999· $400/ft²

For sale

Book a showing

Pick a time that suits you. A verified local agent confirms within 24h.

Full Cost Breakdown

Loading rates, 30-yr amortization

Current Rates

Loading…

Compare all rates

Down Payment6.43% · $44,999.90

Min 6.43%50%

Mortgage payment$3,631/mo

↳ CMHC premium ($26,200 capitalized)

Property tax (est.)$398/mo

Total monthly$4,030

Cash Needed to Close

Down payment (6.43%)$45,000

Land transfer tax$10,475

Est. closing costs$4,600

Total cash needed$60,075

Get Pre-Approved · Free & Fast

Rates via our partner mortgage brokers at iShopRates · Estimates only, not financial advice

Rental cashflow calculator