197 Palmer Ave
Kitchener, N2G 3P7
FOR SALE
$899,900
➧
➧
Browsing Limit Reached
Please Register for Unlimited Access
3
BEDROOMS3
BATHROOMS3
KITCHENS3
ROOMSX9013831
MLSIDContact Us
Property Description
$$$ DONT MISS OUT ON THIS CASH COW LEGAL TRIPLEX WITH OVER 5% PROJECTED CAP RATE $$$ COMPLETELY UPDATED LEGAL TRIPLEX IN THE HEART OF THE CITY WITH METAL ROOF & ZERO CONDO FEES!!! This is the perfect opportunity for the savvy investor to grow their portfolio. This home has been completely gutted and updated! With too many updates to list... here are just a few; NEW WINDOWS, DOORS, ELECTRICAL, PLUMBING, FLOORING, BATHROOMS ETC... this is a MUST-SEE building. All units have private entrances as well as EN-SUITE laundry. Your Tenants can enjoy the morning and evening sun on their private veranda or balcony
Call
Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2024-06-10 | 2024-07-08 | 28 | $974,900 | - | Terminated |
| 2023-10-03 | 2023-12-31 | 89 | $979,900 | - | Expired |
| 2023-09-13 | 2023-09-29 | 16 | $1,050,000 | - | Terminated |
| 2023-06-28 | 2023-07-07 | 9 | $1,039,000 | - | Terminated |
| 2023-03-30 | 2023-06-27 | 89 | $1,099,900 | - | Terminated |
| 2023-03-03 | 2023-03-29 | 26 | $1,199,000 | - | Terminated |
| 2022-11-03 | 2022-12-16 | 43 | $1,249,900 | - | Terminated |
| 2022-10-21 | 2022-11-03 | 13 | $979,900 | - | Terminated |
Property Features
Hospital, Library, Park, Place Of Worship, Public Transit
Call
Property Details
Street
City
Property Type
Triplex, 2-Storey
Approximate Sq.Ft.
1500-2000
Lot Size
40' x 90'
Acreage
< .50
Fronting
West
Taxes
$3,857 (2024)
Basement
Apartment, Finished
Exterior
Brick, Vinyl Siding
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
3
Driveway
Private
Garage Type
None
Call
Room Summary
| Room | Level | Size | Features |
|---|---|---|---|
| Bathroom | Main | 8.07' x 9.25' | 4 Pc Bath |
| Br | Main | 11.19' x 11.98' | |
| Kitchen | Main | 15.12' x 10.76' | |
| Living | Main | 12.20' x 12.34' | |
| Bathroom | 2nd | 5.35' x 7.09' | 4 Pc Bath |
| Br | 2nd | 10.43' x 11.84' | |
| Br | 2nd | 13.39' x 17.81' | |
| Kitchen | 2nd | 10.01' x 10.56' | |
| Living | 2nd | 13.16' x 14.27' | |
| Bathroom | Lower | 5.58' x 6.73' | 3 Pc Bath |
| Kitchen | Lower | 15.49' x 6.50' | |
| Living | Lower | 14.07' x 11.12' |
Call
Kitchener Market Statistics
Kitchener Price Trend
197 Palmer Ave is a 3-bedroom 3-bathroom home listed for sale at $899,900, which is $122,249 (15.7%) higher than the average sold price of $777,651 in the last 30 days (August 21 - September 19). During the last 30 days the average sold price for a 3 bedroom home in Kitchener declined by $8,107 (1.0%) compared to the previous 30 day period (July 22 - August 20) and up $3,931 (0.5%) from the same time one year ago.Inventory Change
There were 97 3-bedroom homes listed in Kitchener over the last 30 days (August 21 - September 19), which is up 32.9% compared with the previous 30 day period (July 22 - August 20) and up 40.6% compared with the same period last year.Sold Price Above/Below Asking ($)
3-bedroom homes in Kitchener typically sold $13,633 (1.8%) above asking price over the last 30 days (August 21 - September 19), which represents a $7,578 increase compared to the previous 30 day period (July 22 - August 20) and $11,120 more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 3-bedroom homes in Kitchener over the last 30 days (August 21 - September 19) stood at 66.0%, down from 79.5% over the previous 30 days (July 22 - August 20) and up from 62.3% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 3-bedroom 3-bathroom home in Kitchener stood at 17 days when successfully sold over the last 30 days (August 21 - September 19), compared to 46 days before being removed from the market upon being suspended or terminated.Listing contracted with Royal Lepage Wolle Realty
Similar Listings
R5 ZONING. TRIPLEX ON LARGE LOT. Across From Bus Transportation And A Shopping Plaza. Centrally Located Near Major Highways And Amenities. Strategically Located In A Highly Desirable Area Of Kitchener. This Property Boasts Two 2-Bedroom Units Ans A One 1-Bedroom Unit, Each Equipped With Separate Hydro Meters. 7 Parking Spots, A Shed, Tenant Storage, And Recent Updates, Including Forced Air Furnace (2 Years), Driveway (10 Years), And Roof (13 Years). An Excellent Investment Opportunity To Add To Your Multiplex Portfolio. This Triplex Offers Both Immediate Income Potential And Long-Term Value. Minimum 24 Hours Notice Is Required For All Showings.
Call
Call