Notable Multi Family & Student Housing Transactions in Waterloo

By Benjamin Bach, the Wealth Team on March 12, 2010 in kitchener waterloo, Real Estate Investment

This afternoon I was showing a real estate investor a multi-family investment opportunity, and while we were on the roof, I snapped a few pictures of King St and Spruce Street in Waterloo, Ontario.

In 2009 there were a few notable student rental transactions, mainly brand new construction and development. The pictures above and below illustrate a few examples, including a brand new student housing building under construction on King Street.

: Student Rental Development Parcel & Recent Commercial Sales on King in Waterloo, Ontario

Plus, there were also some big sales in February which we previously looked at here Student Rental Market Update – Waterloo, Ontario:

3 properties on Bricker Avenue, directly across from Wilfrid Laurier University (WLU) sold for $8,450,000. There were 143 beds in the 3 properties, and per room revenues were lower than other comparably located properties.

A duplex on Hickory Street , very close to WLU, just sold at $630,000, after being on the market for 30 days. The property is licenced for 10 students.

A 10 bedroom licenced lodging home on Regina sold for $550,000

Two detached 5 bedroom homes recently sold, both for above their asking prices. One sold at $333,500, the other traded at $336,000, 11K above the list price. A client offered on one of these, but we felt the properties were not worth the above list price premium being paid. You have to know when to walk away!

For more information about the commercial and investment real estate market in Waterloo Region, contact me today at Benjamin@BenjaminBach.com or call me at 519.772.4376.