311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
311 Spruce Street, Waterloo, ON N2L 3M6
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For Sale

$1,499,900

311 Spruce Street, Waterloo, ON N2L 3M6

14 Beds

Remarks

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!

Inclusions:

Hot Water Tank Owned,Smoke Detector,Other,5 Fridges, 3 Stoves, 3 Washers, 3 Dryers

Exclusions:

Tenants' Possessions

Property Summary

  • Lot Frontage: 55.59 Feet
  • Lot Depth: 125.2 Feet
  • No. of Parking Spaces: 4
  • Floor Space (approx): 2916 Square Feet
  • Bedrooms: 14
  • Zoning: (H) RN-12

Property Features:

  • Basement:
    Walk-Up Access , Full , Finished
  • Construction Materials:
    Vinyl Siding
  • Cooling:
    None
  • Heating:
    Baseboard , Electric
  • Interior Features:
    Separate Hydro Meters
  • Acres Range:
    < 0.5
  • Driveway Parking:
    Outside/Surface/Open
  • Laundry Features:
    In-Suite
  • Lot Features:
    Rectangular , Park , Place of Worship , Public Transit , Schools
  • Roof:
    Asphalt Shing
  • Security Features:
    Smoke Detector , Alarm System
  • Sewer:
    Sewer (Municipal)
  • Water Source:
    Municipal
Lifestyle
Neighbourhood Info

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