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?
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).
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.

 “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)
 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?
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

–
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Benjamin Bach, Sales Representative

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.