$499,000 - 20 Cherry Street, Kitchener
Multi-Family for Sale in Kitchener
114 days on market- MLS Number
- X12821034
- Property Type
- Multi-Family
- Status
- active
- Days on Site
- 114
- Bedrooms
- 6
- Bathrooms
- 2
- Square Feet
- 1,500 - 1,999 sqft
- Neighbourhood
- Kitchener
- Listing Brokerage
- HOMELIFE LANDMARK REALTY INC.
Opportunity Knocks! Value-Add Duplex with Major Mechanical Updates Completed. This 6 bedroom duplex is the perfect investment opportunity. Located just minutes from downtown Kitchener, Back to cherry park. Solid duplex offering tremendous upside for investors, renovators, or end users looking to build equity. While the property requires cosmetic updating, the big-ticket items have already been addressed - including roof, gas furnace, and updated electrical panel (breaker system) completed within the past 8 years. With the costly infrastructure improvements already done, this property provides the perfect opportunity to focus on interior/exterior upgrades and significantly increase value. The main floor features a 3 bedroom unit with one bathroom . Upstairs, you will find three good-sized bedrooms and a big living space on third floor with a four-piece bathroom. Two self-contained units offer income potential and flexibility. The basement provides additional space with potential for future development or possible additional unit, subject to municipal approvals and buyer due diligence. Situated on a generous lot with a large backyard, adding further long-term potential. A smart investment opportunity for those looking to renovate and maximize returns. With its prime location near downtown Kitchener, there is plenty of shopping, easy access to public transit, and lots of open spaces like Cherry Park, Victoria Park, and the Iron Horse Trail. Whether you're looking for a smart investment or a versatile space to live and work, this property is a rare find in the heart of the city. Book your showing today! This property is being sold as is.
Estimate your monthly payments for this property
Estimated Payment
$2,560.13/mo
Includes CMHC insurance ($13,922)
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Kitchener
Kitchener is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Kitchener
- •Convenient location in Kitchener
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Kitchener offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
20 Cherry Street, Kitchener
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Competitive Pricing
At $333/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Negotiation Opportunity
At 114 days on site, this property has exceeded the typical selling timeline for Kitchener. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Excellent Flexibility
With 6 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Kitchener.
Let's See It Together
Photos only tell part of the story. During our showing, I'll point out things the camera doesn't capture: neighbourhood feel, natural light quality, traffic noise, and overall condition. I'll also share what comparable homes have sold for and help you craft a winning strategy if you decide to move forward.