81 Kenwood Drive, Kitchener, ON N2B 3H3

About this home

Opportunities of this calibre rarely come to market. For investors seeking a genuinely turnkey multifamily acquisition with minimal near-term capital exposure, proven stability and long-term positioning in the heart of Kitchener-Waterloo, one of Ontario's most dynamic rental markets-81 Kenwood Drive stands apart. Offered at a compelling 5.6% CAP RATE, 81 Kenwood Drive is an exceptionally well-cared-for 16-unit apartment building where capital has been proactively deployed, nothing has been left to chance and the pride of ownership is evident. The building combines the character and oversized layouts of a 1960s-built asset with the confidence and ease of modern, proactive ownership. The desirable mix of 2x1bd, 8x2bd and 6x3bd suites provides remarkably spacious, open-concept layouts that cannot be economically replicated in most new construction, helping drive strong demand and consistent occupancy. Set on almost half an acre, the property features 28 parking spaces with potential for up to 32-approaching an extraordinary 2:1 ratio. What truly distinguishes this asset is its exceptional condition, including extensively renovated suites, completely rebuilt balconies (2022), new exterior door systems (2025), upgraded common areas with slip-resistant tile and rubber stair treads, modern security with intercom, keyless entry and high-resolution cameras, copper plumbing and electrical throughout, and diligently maintained life-safety systems. Equally impressive is the building's operating history: strong tenant satisfaction, a smoke-free environment and, according to ownership, no rental non-payment, LTB proceedings or tenant disputes throughout their tenure. 81 Kenwood represents a rare combination of scale, stability, quality and long-term upside-a truly dialed-in, institutional-quality multifamily investment in one of Canada's fastest-growing technology and post-secondary markets. No trespassing or access to the property is permitted without prior vendor consent.

Home details

Days on market

Not reported

Property type

Investment

MLS® number

X13859440

Source status

New

Postal code

N2B 3H3

Stored area (basis / units unverified)

0.458

Garage parking spaces

Not reported

Total parking spaces

Not reported

Occupancy

Tenant

Possession type

Flexible

Garage

Outside/Surface

Annual property tax

41802

Heating system

Baseboard

Cooling

Partial

Utility services

Yes

MLS entry age (not confirmed DOM)

35 days

These details come from the listing source. Please confirm measurements and fees before making a decision.

Utilities and services

Reported utility services

Yes

Heating system

Baseboard

Cooling

Partial

A reported service is not necessarily included in rent or maintenance. Missing information does not mean a service is absent.

Rooms & virtual tours

Room-count details have not been supplied for this listing.

Ask the listing brokerage for floor plans and measured room layouts.

Listing dates & price record

Asking amount

$3,999,900

1. Oct 4, 2026

   Original MLS entry

   Entry into the source MLS system; distinct from days on market.

Coverage varies by listing. Dates are source-reported calendar dates; only the latest reported asking-price change is shown. This is a partial record.

Estimate monthly costs

Adjust the assumptions for your own scenario. Blank expenses are unknown; enter them for a fuller estimate.

Planning estimate with Canadian semiannual compounding. Excludes mortgage insurance, closing costs and special assessments. This is not a lender quote or mortgage approval.

Map and neighbourhood

Region / county

WATERLOO

Municipality

KITCHENER