311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
311 SPRUCE STREET , Waterloo, Ontario N2L3M6
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For Sale

$1,499,900

311 SPRUCE STREET , Waterloo, Ontario N2L3M6

9+9 Beds 5 Baths

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! (id:7525)

Property Summary

  • Lot Size: 55.59 x 125.2 FT
  • No. of Parking Spaces: 4
  • Bedrooms: 9+9
  • Bathrooms (Total): 5

Property Features:

  • Features:
    Carpet Free
  • Property Type:
    Single Family
  • Sewer:
    Sanitary sewer
  • Utility Type:
    Sewer - Installed
  • Utility Type:
    Cable - Installed

Building Features:

  • Amenities:
    Separate Hydro Meters , Separate Heating Controls
  • Basement Development:
    Finished
  • Basement Type:
    N/A
  • Building Type:
    Triplex
  • Exterior Finish:
    Brick , Vinyl siding
  • Fire Protection:
    Smoke Detectors
  • Foundation Type:
    Concrete
  • Heating Fuel:
    Electric
  • Heating Type:
    Baseboard heaters

Rooms

  • Bathroom:
    Level: 2nd 3.56 m x 2.23 m
  • Kitchen:
    Level: 2nd 3.58 m x 4.20 m
  • Bathroom:
    Level: Basement 1.86 m x 2.10 m
  • Bathroom:
    Level: Basement 2.31 m x 2.61 m
  • Bathroom:
    Level: Main 1.57 m x 2.04 m
  • Kitchen:
    Level: Main 4.13 m x 2.02 m
  • Bathroom:
    Level: Main 3.51 m x 2.18 m
  • Kitchen:
    Level: Main 3.53 m x 4.97 m
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