- Ontario
- Waterloo
311 Spruce St
CAD$1,499,900 Sale
311 Spruce StWaterloo, Ontario, N2L3M6
1454| 4304 sqft
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ID40580016
StatusCurrent Listing
Ownership TypeFreehold
TypeResidential House,Triplex
RoomsBed:14,Bath:5
Square Footage4304 sqft
Land Size0.16 ac|under 1/2 acre
Age
Listing Courtesy ofRoyal LePage Wolle Realty
Detail
Building
Bathroom Total5
Bedrooms Total14
Basement DevelopmentFinished
Cooling TypeNone
Exterior FinishBrick,Vinyl siding
Fireplace PresentFalse
Fire ProtectionAlarm system
Foundation TypePoured Concrete
Heating FuelElectric
Heating TypeBaseboard heaters
Size Interior4304 sqft
Stories Total2
Total Finished Area
Utility WaterMunicipal water
Basement
Basement TypeFull (Finished)
Land
Size Total0.16 ac|under 1/2 acre
Size Total Text0.16 ac|under 1/2 acre
Acreagefalse
AmenitiesPark,Place of Worship,Public Transit,Schools
SewerMunicipal sewage system
Size Irregular0.16
Surrounding
Ammenities Near ByPark,Place of Worship,Public Transit,Schools
Other
Equipment TypeWater Heater
Rental Equipment TypeWater Heater
FeaturesSouthern exposure
BasementFinished,Full (Finished)
FireplaceFalse
HeatingBaseboard heaters
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:22211)
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Location
Province:
Ontario
City:
Waterloo
Community:
Beechwood/University
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