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The Kaufman Lofts in Kitchener Waterloo – an Investor‟s Perspective




                                          The hist...
One of the biggest factors is location.

Located right on the corner of King St
and Victoria Street in Kitchener, Ontario,...
What are the condos like inside?

This gorgeous 1 bedroom condominium at Kaufman (410 King Street West)
recently sold in t...
“When the
                                                                lofts were
                                     ...
Since Exchange
                                                         published the story
                              ...
Below is a list of the most recent sales at Kaufman, including what the
condo was for sale at, how many days it was on the...
New Report Released About Kitchener Waterloo Real Estate

3 Things You Should Look For Before Investing in a Condo in Kitc...
Director, KW Commercial
a division of Keller Williams Golden Triangle Realty

Benjamin@BenjaminBach.com
519 772 4376 direc...
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The Kaufman Lofts In Kitchener Waterloo

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Kaufman Lofts in Kitchener Waterloo are hot new luxury loft condos in the heart of Kitchener's new downtown. Information on condos for sale

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The Kaufman Lofts In Kitchener Waterloo

  1. 1. The Kaufman Lofts in Kitchener Waterloo – an Investor‟s Perspective The historic Kaufman Lofts in downtown Kitchener have been a „destination‟ building ever since construction on the condo conversion was announced. People tell me “I want a Kaufman Loft!” Even if the loft is a bit smaller or pricier than another condominium they were looking at, the design, location and prestige put the project over the top. Originally built in 1908, the building was formerly the Kaufman Footwear Plant. One client saw a 750 sq foot unit in Waterloo for $135,000, and preferred the 710 sq foot Kaufman Loft at $210,000. The loft has a „cachet‟ that just isn‟t seen in most other developments in the area. OK – people want to buy these to live in… but this brings us to the question: Is this an appealing real estate investment?
  2. 2. One of the biggest factors is location. Located right on the corner of King St and Victoria Street in Kitchener, Ontario, it sits across from the brand new Downtown Kitchener Health Sciences Campus – which will house the University of Waterloo School of Pharmacy, the McMaster School of Medicine and the UW Optometry School. OK – the condo‟s are across the street from the new university campus. Sounds pretty good so far – let‟s look into it a bit more. * The school is projected to have 480 undergraduate and 70 graduate students, 50 faculty and staff. * Upon completion, the UW Downtown Kitchener Health Sciences Campus expected to bring hundreds of faculty members and staff to the city‟s core each day. This is no ordinary campus – it‟s a campus full of people studying to be professionals, not regular undergraduates. Most of these students tend to be academic-focused, want a nice, clean rental property near campus, and demand little else. For the convenience, cleanliness and cachet, they‟re usually willing to pay a premium. I‟ve seen 1 bedroom units renting between $1,000 and $1,200 a month, depending on upgrades and square footage. Pretty healthy rental rates, but not a surprise when you consider how tight the rental market is in Kitchener Waterloo right now (click to read Vacancy Rate Falls in Kitchener Waterloo – Again).
  3. 3. What are the condos like inside? This gorgeous 1 bedroom condominium at Kaufman (410 King Street West) recently sold in the low $180,000‟s. It features polished concrete floors, twelve foot high ceilings, exposed ductwork and access to a roof top patio. More things your future tenants will appreciate are the upgraded cabinets, luxurious Kitchen featuring a granite island, stainless steel appliances, electric fireplace and an upgraded deep soaker tub. How have these units performed for investors so far? Great question! Let‟s take a look at some numbers.
  4. 4. “When the lofts were first introduced to the market by the builder, prices ranged from $114,990 for a 515 sq. ft. unit, to $197,990 for a 1,120 sq. ft. unit. On a per square foot basis they averaged $203. Today, on the resale market, sold units have ranged from just under $150,000 to $299,900 with an average per square foot price of $281. For those original buyers of Phase 1 units (those who purchased prior to the builder adding two storys, increasing the number of units from 113 to 155 and the prices to an average of $249 per square foot) that means they have seen an average appreciation of 38 percent.”(source Exchange Morning Post (Exchange Magazine, March 17 2008)
  5. 5. Since Exchange published the story above, recent sales of condos in the complex have had listed prices between $164,900 and $219,900. Currently there are available units with listed prices between $167,700 and $304,900. If you are interested in learning about how a Kaufman Loft in Kitchener can fit into your real estate investment portfolio, call me now @ 519 570 4447 or send me an email. I promise you a free, no obligation, educational discussion about your developing & reaching personal real estate goals. Doesn‟t get much easier than that. What is a condo at Kaufman Lofts in Kitchener Worth? by admin on 12. Mar, 2010 in New Condo One of the most popular condo buildings in Kitchener, Ontario is the Kaufman Lofts. A historic building in Kitchener‟s downtown, it was originally built by A.R. Kaufman between 1908 and 1925, and used to produce footwear for industrial workers. Are you interested in what a condo at the Kaufman Lofts sells for?
  6. 6. Below is a list of the most recent sales at Kaufman, including what the condo was for sale at, how many days it was on the market, what it sold for, and when. Kitchener Condo Prices - Kaufman Lofts For more information on Kaufman Lofts and other condos in Kitchener, contact Benjamin Bach @ Benjamin@BenjaminBach.com, or call me at 519-772-4376 – Related Real Estate Investment Articles: Real Estate Investment Tip: Raising Rent on Rental Units in Ontario Top 10 Reasons to Invest in Kitchener Waterloo Real Estate
  7. 7. New Report Released About Kitchener Waterloo Real Estate 3 Things You Should Look For Before Investing in a Condo in Kitchener Waterloo Over the last few years our clients have been investing... Why we invest in Kitchener Waterloo Real Estate Yesterday I had the chance to sit down with two... Kitchener Waterloo Real Estate Market Update – October 2009 September 2009 was a very busy month for real estate... Commercial Real Estate news heard on Twitter Not familiar with Twitter? Twitter is a communication platform where... What happened in Kitchener Waterloo Real Estate in „09? This morning we looked at the strong sales the KW... Canadian Real Estate Market Growth Based on Demand An interesting article on the national real estate market in... Market Update: Real Estate selling fast in Kitchener Waterloo “I can‟t believe this sold in 2 days – the... Commercial and Investment Real Estate Market Heating Up What a gorgeous day in Kitchener Waterloo – it‟s sunny,... CBRE Looks at Canada‟s Top Multi-Family Sales in 2009 I was reading a report that CBRE research put out... Commercial Real Estate news around the web Here are some commercial real estate reports and stories I‟ve... Changes coming to licensing of lodging and student rental houses in Waterloo? The City of Waterloo recently sent out the Lodging House... Investment Real Estate Terms: Cap Rate & Cash on Cash Return One of the questions I get a lot is “whats... Benjamin Bach, Sales Representative
  8. 8. Director, KW Commercial a division of Keller Williams Golden Triangle Realty Benjamin@BenjaminBach.com 519 772 4376 direct | 519 772 4377 fax 9-871 Victoria Street North Kitchener, ON N2B 3S4 | 519 570 4447 office Not intended to solicit anyone or properties under contract to another brokerage.

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