$1,499,900 $8,052 est/mo Sourced by Back At You

311 Spruce Street,Waterloo, ON N2L 3M6

Waterloo ON, N2L 3M6

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Description

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!

Details

MLS#40580016
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusActive
Days On Site28
Listing Provided ByRoyal LePage Wolle Realty | Mike Milovick

Features

Bed(s)14
Bath(s)5
SQ Feet2,916
BasementY
Story(s)2
Units3
Zoning(H) RN-12
Acreage0.16
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Information Technology of Southern Ontario MLS.

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Listings Checked: 2 minutes ago
ProvinceON
CountyWaterloo
CityWaterloo
Postal CodeN2L 3M6
Area4 Waterloo West
Subarea417 Beechwood | University
Community Name417 Beechwood/University
Listing VS Median (in 417 Beechwood/University)
Price:
$1,499,900
low | high
Med:
$520,000
100% of Average
SqFt:
2,916
low | high
Med:
960
100% of Average
$ / SqFt:
$514
low | high
Med:
$542
44.692979531969% of Average
On Site:
28
low | high
Med:
12.000000
100% of Average
Sourced by Back At You
Listing Updated: May 21, 2024 at 5:39:15 PM PDT