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$1,499,900
Available - For Sale
Listing ID: X8313742
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: $11,247
Assessment: $934000
Assessment Year: 2024
Address: 311 Spruce St , Waterloo, N2L 3M6, Ontario
Lot Size: 55.59 x 125.2 (Feet)
Acreage: < .50
Directions/Cross Streets: Hickory Street West And Spruce Street
Rooms: 9
Rooms +: 9
Bedrooms: 9
Bedrooms +: 9
Washrooms: 5
Kitchens: 3
Kitchens +: 3
Family Room: N
Basement: Finished
Walk-Up
  Level/Floor Room Length(ft) Width(ft) Descriptions
Room 1: Main Bathroom 5.15 6.69 4 Pc Bath
Room 2: Main Kitchen 13.55 6.63
Room 3: Bsmt Bathroom 6.10 6.89
Room 4: Main Bathroom 11.51 7.15 4 Pc Bath
Room 5: Main Kitchen 11.58 16.30
Room 6: Bsmt Bathroom 7.58 8.56 3 Pc Bath
Room 7: 2nd Bathroom 11.68 7.31 4 Pc Bath
Room 8: 2nd Kitchen 11.74 13.78
No. of Pieces Level
Washroom 1:  4 Main
Washroom 2:  4 2nd
Washroom 3:  3 Bsmt
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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Asking Price: $ Heating: $ /Year  
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Taxes:   $ /Year Other Debt: $ /Year  
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First Mortgage $ $ $ $
CMHC/GE $ $ $ $
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Total Payment $ $ $ $
Income Required $ $ $ $

This chart is for demonstration purposes only. Always consult a professional financial advisor before making personal financial decisions.

Although the information displayed is believed to be accurate, no warranties or representations are made of any kind.
ROYAL LEPAGE WOLLE REALTY

311 Spruce St , Waterloo, N2L 3M6, Ontario

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MD Ashraful Bari
Broker
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647.406.6653
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905.201.9977
Fax:
905.201.9229

 
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Type: Freehold - Triplex
Area: Waterloo
Municipality: Waterloo
Neighbourhood:
Style: 2-Storey
Lot Size: 55.59 x 125.20(Feet)
Approximate Age: 31-50
Tax: $11,247
Maintenance Fee: $0
Beds: 9+9
Baths: 5
Garage: 0
Fireplace: N
Air Conditioning:
Pool: None
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Personal Pic MD Ashraful Bari Broker HomeLife/Future Realty Inc, Brokerage Independently owned and operated. pic Cell: 647.406.6653 | Office: 905.201.9977
MD Ashraful Bari
BROKER

Cell: 647.406.6653
Office: 905.201.9977
Fax: 905.201.9229

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HomeLife/Future Realty Inc., Brokerage
Independently owned and operated.
205-7 Eastvale Drive
Markham, ON L3S 4N8

 

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