311 Spruce Street, 417 - Beechwood/University in Waterloo, ON
This is a Multi-family Listing.
Out of Service Area ~the 417 - Beechwood/University area~
311 Spruce Street, 417 - Beechwood/University in Waterloo
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:6289)
$1,499,900
311 Spruce Street, Waterloo, Ontario
Essential Information
- MLS® #40580016
- Price$1,499,900
- Price per Sqft348
- Bedrooms14
- Bathrooms5.00
- Square Footage4,304
- Acres0.16
- TypeMulti-family
- Sub-TypeFreehold
- Days on Website18
Amenities
- AmenitiesPark, Place of Worship, Public Transit, Schools
- FeaturesSouthern exposure
- Parking Spaces4
Exterior
- ExteriorBrick, Vinyl siding
- FoundationPoured Concrete
Community Information
- Address311 Spruce Street
- Subdivision417 - Beechwood/University
- CityWaterloo
- Postal CodeN2L3M6
Interior
- HeatingElectric Baseboard heaters
- CoolingNone
- Has BasementYes
- # of Stories2
Listing Details
- Listing OfficeRoyal LePage Wolle Realty