Was listed for:Expired Apr 30, 2025
$1,499,900

281 Lorne Avenue

Kitchener, ON N2M 3Y9

Multiplex ExpiredNot available

Property not available for sale or for rent.

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Sale & Price History for 281 Lorne Avenue, Kitchener

2025-01-04
2025-04-30
Expired
Price
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MLS#
x11907415

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*Sold prices and complete sale & price history are regulated data. Under the Trust in Real Estate Services Act, 2002 (TRESA) and the rules of the Real Estate Council of Ontario (RECO), and pursuant to the Multiple Listing Service® rules of the Canadian Real Estate Association (CREA) and the Toronto Regional Real Estate Board (TRREB), this information may be shown only to registered users who have agreed to the applicable terms of use (a Virtual Office Website, or "VOW," arrangement). HOMEH Inc., Brokerage therefore provides it to signed-in members only. Creating an account is free and takes under a minute.

About 281 Lorne Avenue, Kitchener

Charming Sixplex Investment Opportunity in Forest Hill, Kitchener This well-maintained sixplex offers a fantastic income-generating opportunity for investors, located in the desirable Forest Hill neighborhood of Kitchener. The property features five 1-bedroom units and one 2-bedroom unit, making it perfect for singles, couples, or small families. Recent upgrades have enhanced both the interior and exterior of the property. The front and rear entrances have been updated with new flooring, freshly painted entryways, and a refreshed exterior to boost curb appeal and provide a welcoming experience for tenants. Units 1 and 2 have undergone modern renovations to attract high-quality tenants. The property is fully equipped with an up-to-date fire alarm and extinguisher system, ensuring safety and compliance with industry standards. Additional Income Potential: A unique opportunity exists for the buyer to further increase income by extending the existing building with the addition of a small house or triplex. Buyer to conduct due diligence before proceeding. With stable income, recent improvements, and significant growth potential, this sixplex is a strong investment opportunity for those looking to add value to their portfolio. Dont miss out schedule your showing today!

Key Facts & Features

Property Costs

Annual Property Tax Amount
$6,975
Land Transfer Tax Fee
$26,473

Basement Type
None

Interior Features

Interior Extras
Water Softener, Water Heater
Security Features
Carbon Monoxide Detectors, Smoke Detector
Fireplace/Stove
No
Elevator
No

Exterior Features

Pool
None
Property Features
Public Transit, Park, School

Building

Building Type
Multiplex
Building Style
3-Storey
Approx Age
51-99

Construction

Exterior Finish
Brick, Vinyl Siding
Roof
Flat
Foundation Details
Poured Concrete
Special Designation
Unknown

Lot

Lot Front
92.57 ft
Lot Depth
117.00 ft

Inclusions

Inclusions
Stove and Refrigerator in each unit and coin laundry machine. "As is" conditions

Exclusions

Exclusions
Tenant belonging

Parking & Garages

Garage Type
None
Garage Spaces
7
Parking Spaces
7
Total Garage And Parking Spaces
7

Heating & Cooling

Heat Source
Gas
Heat Type
Radiant
Air Conditioning
None
Water
Municipal
Sewers
Sewer
Hydro
Yes

Bedrooms
7
Washrooms
6
Kitchens
6
Family / bonus room
Yes

Washrooms

  • 3-piece

Municipality
Kitchener
Main cross streets
HOMER WATSON BLVD RIGHT ON HOFFMAN ST, LEFT ON KEHL ST, LEFT ON HEIMAN ST, RIGHT ON LORNE AVE
Zoning
R2

MLS® number
X11907415
Data source
Toronto Regional Real Estate Board
Status change
2025-04-30
Listed on
2025-01-04
Days on market
116 days
Possession date
2025-02-03
Possession type
February 3, 2025
Co-op commission
2%
Seller
Listed by
RIGHT AT HOME REALTY

Home Market Value

Current home valuation for 281 Lorne Avenue, Kitchener, , . Listed for $1,499,900

HOMEH Estimate

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Estimated Sales Range

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HOMEH Estimate for 281 Lorne Avenue, Kitchener

Calculated with a real agent's CMA method — 45+ years of experience, codified. Not an AI guess.

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Mortgage Payment Calculator

Compare up to 4 down payment scenarios

$
Minimum Down Payment Required:8.3%

5% on first $500K + 10% on $999,900 over $500K

Minimum down payment

$124,990

Scenario 1 Scenario 2 Scenario 3 Scenario 4
−Down payment
%
$
%
$
%
$
%
$
+CMHC insurance
$54,956$41,847$35,698$0
=Total mortgage
$1,428,864$1,391,757$1,310,613$1,199,920
Amortization
Mortgage rate
%
%
%
%
Payment frequency
=Mortgage payment
$6,976monthly$6,795monthly$6,399monthly$5,859monthly
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Land Transfer Tax

Provincial

$26,473

Total Land Transfer Tax

$26,473

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