$1,499,900
Available - For Sale
Listing ID: X8313742
311 Spruce St , Waterloo, N2L 3M6, Ontario
| 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 |
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| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| ROYAL LEPAGE WOLLE REALTY |
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At a Glance:
| 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 |
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