Nearly $112,000 Projected Gross Annual Income available here! Discover a prime real estate opportunity in the heart of Waterloo, just a two-minute stroll from WLU and a short walk to the lively amenities of Uptown, with convenient access to the UW. This strategically positioned, triplexed building presents a rare prospect for private-sector investors, boasting three City-approved rental licenses. Unit A has undergone recent renovations, featuring updated flooring and fresh paint. Unit B offers significant potential for increased annual rental income upon tenant departure and is currently undergoing renovations (paint and flooring). Unit C re-rented for September, 2024 at $2775 plus electricity ($7500+ annually more than current rents. This unit impress with spacious common areas. All units are designed with generously sized common areas, in-suite and spacious bedrooms equipped with individual temperature control. The unit mix includes 3, 5, and 6 bedroom configurations, providing versatility and catering to various tenant needs. Parking is ample, and each unit features individual electrical meters. Units B and C present an additional opportunity to shift electrical costs to tenants upon re-rental, contributing to increased profitability. The roof, recently replaced in 2022, ensures a low-maintenance investment. This is an ideal fit for a range of investors, whether you're a veteran investor seeking a foothold in the lucrative Waterloo rental market, a parent looking for the perfect location for your university-bound child, or a university employee desiring proximity to work with the added benefit of strong mortgage-helper income. The property's zoning may open doors to future development opportunities when combined with adjacent properties. Positive cash flow opportunity with 35% down and additional upswing potential. Investor worksheet is available to demonstrate how this property can work for you. Seize the chance to get your hands on this Money Maker! |
Price | $1,499,900 |
Taxes: | $11247.00 |
Assessment: | $934000 |
Assessment Year: | 2024 |
Address: | 311 Spruce St , Waterloo, N2L 3M6, Ontario |
Lot Size: | 55.59 x 125.20 (Feet) |
Acreage: | < .50 |
Directions/Cross Streets: | Hickory Street West And Spruce Street |
Rooms: | 9 |
Rooms +: | 9 |
Bedrooms: | 9 |
Bedrooms +: | 9 |
Kitchens: | 3 |
Kitchens +: | 3 |
Family Room: | N |
Basement: | Finished, Walk-Up |
Approximatly Age: | 31-50 |
Property Type: | Triplex |
Style: | 2-Storey |
Exterior: | Brick, Vinyl Siding |
Garage Type: | None |
(Parking/)Drive: | Available |
Drive Parking Spaces: | 4 |
Pool: | None |
Approximatly Age: | 31-50 |
Approximatly Square Footage: | 2500-3000 |
Fireplace/Stove: | N |
Heat Source: | Electric |
Heat Type: | Baseboard |
Central Air Conditioning: | None |
Elevator Lift: | N |
Sewers: | Sewers |
Water: | Municipal |
Utilities-Cable: | Y |
Utilities-Hydro: | Y |
Utilities-Gas: | Y |
Utilities-Telephone: | Y |
Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
ROYAL LEPAGE WOLLE REALTY |
|
Book Showing | Email a Friend |
Type: | Freehold - Triplex |
Area: | Waterloo |
Municipality: | Waterloo |
Style: | 2-Storey |
Lot Size: | 55.59 x 125.20(Feet) |
Approximate Age: | 31-50 |
Tax: | $11,247 |
Beds: | 9+9 |
Baths: | 5 |
Fireplace: | N |
Pool: | None |