Room 1
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58 Madison Avenue
Downtown Kitchener/East Ward, Kitchener, ON N2H 2Z6
Description
Discover Madison Place at 58 Madison Ave, a turnkey 12-unit income property strategically positioned in Kitchener’s high-demand rental corridor. Fully renovated in 2015, this meticulously maintained asset blends classic charm with modern, investor-ready upgrades. Every suite features newly installed PEX plumbing, fully rewired electrical systems with updated sub-panels, energy-efficient windows, and commercial-grade fire-rated doors and stairwells. The building’s mechanicals are equally impressive, including a north-side tankless boiler (2021), a reliable south-side boiler, and a durable galvanized steel roof installed just 15 years ago. Financially, Madison Place delivers immediate, stable cash flow with $17,475 in monthly in-place rents. Operating expenses are strategically minimized through individually metered hydro, tenant-paid electric baseboard heating, and flat-rate hydro inclusions in select units. With 12 self-contained one-bedroom suites, a common coin-operated laundry room, and 10 dedicated parking spots, the property offers a highly efficient, low-maintenance profile ideal for passive investors or scaling landlords seeking immediate yield. Located minutes from ION light rail, downtown Kitchener, University of Waterloo, and major healthcare hubs, this asset sits in a proven rental demand zone with sustained population growth and constrained multi-family inventory. This is a rare opportunity to acquire a fully refreshed, cash-flowing building with negligible near-term capital expenditure required. Secure your position in one of Ontario’s most resilient real estate markets
01 / Property recordListing detailsFacts, history, rooms and location
Key Facts
- MLS® #
- 40842342
- Board
- Cornerstone (ITSO) MLS®
- Days on market
- Tax
- $30,352
- Size
- 8750 sqft
- Lot
- 60.00 × 142 ft
- Parking
- 12 Parking
Listing History
Listing activity for 58 Madison Avenue, Kitchener, ON
| Date Start | Date End | List Price | Price | Event | Listing ID |
|---|---|---|---|---|---|
| N/A | N/A | $2,499,000 | N/A | Sc | 40842342 |
Property Details
Property
- Property Type
- Multi Family
- Style
- Other
- Community
- Downtown Kitchener/East Ward
- Municipality
- Kitchener
Inside
- Bedrooms
- 1
- Bathrooms
- 1
- Basement Type
- Walk-Up Access, Full, Unfinished
Utilities
- Water
- Municipal
- Cooling
- None
- Heating Type
- Radiator
Building
- Size
- 8750 sqft
- Construction
- Brick, Block
Parking
- Driveway
- Outside/Surface/Open
- Add. Parking
- 12
- Total Parking
- 12
Land
- Sewer
- Sewer (Municipal)
- Lot Size
- 60.00 × 142 ft
Additional
- Roof
- Metal
- Extras
- Microwave, Dryer, Refrigerator, Stove, Washer
Rooms (12)
Room 2
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Room 3
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Room 4
Level not provided
Room 5
Level not provided
Room 6
Level not provided
Room 7
Level not provided
Room 8
Level not provided
Room 9
Level not provided
Room 10
Level not provided
Room 11
Level not provided
Room 12
Level not provided
Location
Land and environment
Public records about this location. Not part of the MLS® listing and not provided by the listing brokerage.
14 records read 8 on record nearby 6 checked, none on recordRead 2026-11-07
Water and conservation
- No mapped wetland within 120 m
- No water-supply well recorded within 250 m23 test or monitoring holes also recorded.
- Groundwater recorded about 4.3 m below ground nearbyThe middle water level in the well records within 500 m (140 records). It changes with the season and from spot to spot.
Province of Ontario open data
Planning and building activity
- Outside the Greenbelt, Oak Ridges Moraine and Niagara Escarpment plan areas
- 3 open development applications within 250 mAn application is a proposal: it may change, be refused or never be built.
- Nearest airport: 6.6 km
Province of Ontario open data · Municipal development applications
Around the home
- A trail on the Ontario trail network within 1 km
Province of Ontario open data
Environmental records
- No licensed pit or quarry within 2 km
- No recorded oil, gas or salt well within 250 m
- No facility within 1 km reports pollutant releases to Environment CanadaThe nearest is Krug Furniture Inc. — Seating, 1.3 km away. Only facilities above the inventory’s reporting thresholds are listed.
- 1 federal contaminated site within 1 kmAll of them are closed. The federal inventory covers federal land only, not provincial or private sites.
Province of Ontario open data · Government of Canada open data
Power and internet
- Electricity is distributed here by Enova Power Corp.
- Wired internet 50/10 Mbps or faster is listed at a household 30 m awayFixed wireless 50/10 Mbps or faster. LTE mobile coverage listed. ISED’s National Broadband Data at the nearest household point (30 m from the listing); 50/10 Mbps is its top category and includes faster plans. Confirm with a provider for this address.
- Across the surrounding area: fibre to the home, cable, DSL internet listedFibre to the home: Bell, Rogers. Cable: Rogers. DSL: Bell. Fixed wireless: Bell, Netflash Internet Solutions, Rogers, Vianet, Waterloo Wireless, Xplore. Mobile: Bell, Freedom Mobile, Rogers, Telus. Satellite: Xplore. ISED’s list for the surrounding ~25 km² area; check with a provider for this address.
Ontario Energy Board · Innovation, Science and Economic Development Canada
None of this is an inspection of the property. Confirm anything that matters to you with the municipality, the conservation authority or the record’s publisher. Contains information licensed under the Open Government Licence – Canada. Contains information licensed under the Open Government Licence – City of Kitchener. Contains information licensed under the Open Government Licence – Ontario.
02 / Plan your numbersToolsMortgage and cash-flow planning
Mortgage Tools
Mortgage calculator
20%
Monthly Payment
$11,456
- Down payment$499,800
- Mortgage amount$1,999,200
- Total interest$1,437,600
- Total cost$3,936,600
Cash flow analysis
$11,456
Total monthly payment
$13,985
Break-even down payment
100%
Cash flow-$13,985
03 / Community profileNeighbourhood demographicsPeople, homes and household context
Expand Neighbourhood demographics to load Statistics Canada census charts.
$2,499,000
$2,499,000
CAD
Estimate unavailable
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