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:31697)
| 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 |
| 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 |
| 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
Contact us for more information
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 The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
