Sold for:Sold Jun 3, 2025
$999,900

305 Lorne Avenue

Kitchener, ON N2M 3Y9

Multiplex SoldNot available

Property not available for sale or for rent.

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Sale & Price History for 305 Lorne Avenue, Kitchener

2025-04-07
2025-06-03
Sold
Price
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MLS#
x12069535

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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 305 Lorne Avenue, Kitchener

Well maintained and updated investment property, this all-brick purpose-multi-plex offers 3,149 sq ft of living space across 3 levels. This property includes two 3-bed units on the main and upper floors, each with a 4-pc bathroom, functional kitchen, and separate living/dining area. The 3rd floor unit also features a private balcony, offering a great spot to unwind and enjoy the outdoors. The lower-level offers a 1-bed unit with a 3-pc ensuite bath, kitchen and living room. Addition bachelor unit is bright and airy, thanks to its large windows, which allow natural light to flow through the space. The property is complemented by a 20x20 ft detached double garage/workshop providing potential additional income. Tenants can take advantage of the common area laundry room and the convenience of an on-site open-surface parking lot. With 3 long-standing tenants already in place and one vacant 3bedroom unit, this multi-plex presents a fantastic investment opportunity, providing immediate rental income and option for owner occupied unit as well. Location is a key selling point for this property. In a highly desirable rental area, residents enjoy easy access to the Laurentian Hills Power Centre, where grocery stores, restaurants, and essential services are all within reach. Numerous parks provide scenic walking and biking trails, making it perfect for those who enjoy an active lifestyle. Nearby McLennan Park, provides a variety of outdoor activities such as mountain biking trails, a toboggan hill, dog park, splash pad, and basketball courts. With several schools close by and the expressway just minutes away for easy access to the 401 and beyond, this multi-plex is ideally situated for convenience and recreation. Whether you're looking for an investment property or a multi-unit home, this building offers great potential in a highly desirable location.

Key Facts & Features

Property Costs

Annual Property Tax Amount
$5,766
Land Transfer Tax Fee
$16,473

Rental Items

Rental Equipment
Hot Water Heater
Under Contract
Hot Water Heater

Basement Type
Finished, Walk-Up

Interior Features

Laundry Level
Lower Level
Interior Extras
Water Heater, Water Meter
Fireplace/Stove
No
Elevator
No

Exterior Features

Pool
None
Property Features
Hospital, Park, Place Of Worship, Public Transit, School Bus Route, School
Other Structures
Workshop

Building

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

Construction

Exterior Finish
Brick
Roof
Asphalt Shingle
Foundation Details
Poured Concrete
Special Designation
Unknown

Lot

Lot Front
50.67 ft
Lot Depth
119.02 ft

Inclusions

Inclusions
4 Fridges, 4 Stoves, 1 Washer, 1 Dryer

Parking & Garages

Garage Type
Detached
Garage Spaces
2
Parking Spaces
4
Total Garage And Parking Spaces
6

Heating & Cooling

Heat Source
Gas
Heat Type
Forced Air
Air Conditioning
Central Air
Water
Municipal
Sewers
Sewer
Natural Gas
Yes
Hydro
Yes
Cable
Yes
Telephone
Yes

Bedrooms
6 + 1
Washrooms
4
Kitchens
4

Washrooms

  • 4-piece, Second
  • 4-piece, Main
  • 4-piece, Lower
  • 3-piece, Lower

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

MLS® number
X12069535
Data source
Toronto Regional Real Estate Board
Status change
2025-06-03
Listed on
2025-04-07
Days on market
57 days
Possession type
Flexible
Co-op commission
2% + HST
Seller
Listed by
RE/MAX REAL ESTATE CENTRE INC.

Home Market Value

Current home valuation for 305 Lorne Avenue, Kitchener, , . Listed for $999,900

HOMEH Estimate

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Estimated Sales Range

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HOMEH Estimate for 305 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

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Minimum Down Payment Required:7.5%

5% on first $500K + 10% on $499,900 over $500K

Minimum down payment

$74,990

Scenario 1 Scenario 2 Scenario 3 Scenario 4
−Down payment
%
$
%
$
%
$
%
$
+CMHC insurance
$36,996$27,897$23,798$0
=Total mortgage
$961,903$927,807$873,713$799,920
Amortization
Mortgage rate
%
%
%
%
Payment frequency
=Mortgage payment
$4,696monthly$4,530monthly$4,266monthly$3,906monthly
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Land Transfer Tax

Provincial

$16,473

Total Land Transfer Tax

$16,473

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