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311 SPRUCE STREET
Waterloo Ontario , N2L3M6 , Canada
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Mike Milovick
Agent
Broker
Phone: 519.747.2040

Royal LePage Wolle Realty
Brokerage:
7 - 180 NORTHFIELD DR WEST
WATERLOO, ON
N2L 0C7
Phone: 519.747.2040
Fax: 519.747.2081
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$1,499,900.00
MLS® X8313742
House : Single Family Dwelling
Lot Size: 55.59 x 125.2 FT
No. of Parking Spaces: 4
Total Bedrooms: 9+9
Total Bathrooms: 5
Remarks:
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:7525)

Property Features:
  • Features: Carpet Free
  • Property Type: Single Family
  • Sewer: Sanitary sewer
  • Utility Type: Sewer - Installed
  • Utility Type: Cable - Installed
Building Features:
  • Amenities: Separate Hydro Meters , Separate Heating Controls
  • Basement Development: Finished
  • Basement Type: N/A
  • Building Type: Triplex
  • Exterior Finish: Brick , Vinyl siding
  • Fire Protection: Smoke Detectors
  • Foundation Type: Concrete
  • Heating Fuel: Electric
  • Heating Type: Baseboard heaters
Rooms:
  • Bathroom
    • 2nd Level 3.56 m x 2.23 m
  • Kitchen
    • 2nd Level 3.58 m x 4.20 m
  • Bathroom
    • Basement Level 1.86 m x 2.10 m
  • Bathroom
    • Basement Level 2.31 m x 2.61 m
  • Bathroom
    • Main Level 1.57 m x 2.04 m
  • Kitchen
    • Main Level 4.13 m x 2.02 m
  • Bathroom
    • Main Level 3.51 m x 2.18 m
  • Kitchen
    • Main Level 3.53 m x 4.97 m
Convert Measurement to:

All information displayed is believed to be accurate, but is not guaranteed and should be independently verified. No warranties or representations of any kind are made with respect to the accuracy of such information.

Not intended to solicit properties currently listed for sale.

All offices are independently owned and operated, except those offices identified as "Royal LePage Real Estate Services Ltd."

The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.

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