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58 MADISON AVENUE N, Kitchener — listed at $2,499,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
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:60164)
Is there air conditioning?+
No central cooling is listed. Budget for portable or window units, or get a quote for adding central air — typically $5,000–$10,000 installed.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $30,351, heating is radiator. Always verify the latest figures with your agent before making an offer — these change yearly.
What makes this a luxury property?+
At $2,499,000, standout features include 8712 sq ft. In this price range, expect higher-end finishes — verify during a showing.
Who is 58 MADISON AVENUE N best suited for?+
With null bedrooms, this is ideal for a couple, a small family, or as a low-maintenance investment property.
How is the home heated? Is it efficient?+
Heating is radiator. Ask for past utility bills to understand real heating costs.
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