14 Bedroom
5 Bathroom
4304
None
Baseboard Heaters
$1,499,900
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! (id:12178)
Property Details
MLS® Number
|
40580016 |
Property Type
|
Multi-family |
Amenities Near By
|
Park, Place Of Worship, Public Transit, Schools |
Equipment Type
|
Water Heater |
Features
|
Southern Exposure |
Parking Space Total
|
4 |
Rental Equipment Type
|
Water Heater |
Building
Bathroom Total
|
5 |
Bedrooms Total
|
14 |
Basement Development
|
Finished |
Basement Type
|
Full (finished) |
Cooling Type
|
None |
Exterior Finish
|
Brick, Vinyl Siding |
Fire Protection
|
Alarm System |
Foundation Type
|
Poured Concrete |
Heating Fuel
|
Electric |
Heating Type
|
Baseboard Heaters |
Stories Total
|
2 |
Size Interior
|
4304 |
Type
|
Triplex |
Utility Water
|
Municipal Water |
Land
Acreage
|
No |
Land Amenities
|
Park, Place Of Worship, Public Transit, Schools |
Sewer
|
Municipal Sewage System |
Size Depth
|
125 Ft |
Size Frontage
|
56 Ft |
Size Irregular
|
0.16 |
Size Total
|
0.16 Ac|under 1/2 Acre |
Size Total Text
|
0.16 Ac|under 1/2 Acre |
Zoning Description
|
(h) Rn-12 |
https://www.realtor.ca/real-estate/26821327/311-spruce-street-waterloo