311 SPRUCE Street, Waterloo, Ontario, N2L3M6
$1,580,000 - For sale
$100,000+ Gross Annual Income Available Here - with more upswing available! This triplexed building is located just a two minute walk to to Wilfrid Laurier University, a quick walk to the vibrant amenities of Uptown and an easy walk to University of Waterloo. This building comes to you with three City-approved, rental licenses issued by City of Waterloo. Located on a street with properties that are predominantly owned by large multi-residential rental service providers, this is a rare opportunity for the private sector investor! Unit A has seen thousands of dollars in renos before going to market with some newer flooring and paint. Unit B tenants have been in place for a couple of years. There is an opportunity to go to market rents and increase revenue substantially on tenant departure in this unit. All units have generously sized common areas and spacious bedrooms with individual temperature control. Thoughtfully designed with a compelling unit mix of 3, 5, and 6 bedroom units. Ample parking. Note individual electrical meters! Opportunity on Units B and C to move electrical costs to tenant on re-rental. Roof done in 2022! This money maker will work well for: savvy investor looking for a foothold in lucrative Waterloo rental market, parent investor that seeks the ultimate location for their university bound child or even a university employee that wants to live close to work and generate mortgage helper income through the other units. Zoning may also provide future development opportunity when combined with adjacent properties. Let's book a viewing of 311 Spruce Street - today! (id:2471)
Location DescriptionNear Corner of Hickory Street and Spruce Street. One Block from Wilfrid Laurier University.
- Property Address:311 SPRUCE Street, Waterloo, Ontario, N2L3M6
- Property Type:Multi-family
- Lot Size:0.16 acres
- Sewage Type:Municipal sewage system
- Water Type:Municipal water
- Parking Space Total:4
- Structure Style:Triplex
- Floor Space:2916
- Heating Type:Electric, Baseboard heaters
- Basement Type:Full (Finished)
- Foundation Type:Poured Concrete
- Cooling Type:None
- Rental Equipment:Water Heater
- Exterior Type:Brick, Vinyl siding
- Amenities Nearby:Park, Place of Worship, Public Transit, Schools
MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association. This REALTOR.ca listing content is owned and licensed by REALTOR® members of The Canadian Real Estate Association.
- Map 311 SPRUCE Street, Waterloo, Ontario, N2L3M6
- Neighbourhood Information
311 SPRUCE Street, Waterloo, Ontario, N2L3M6
The out of province listing content on this website is not intended to solicit a trade in real estate. Any consumers interested in out of province listings must contact a person who is licensed to trade in real estate in that province.
The listing content on this website is protected by copyright and other laws, and is intended solely for the private, non-commercial use by individuals. Any other reproduction, distribution or use of the content, in whole or in part, is specifically forbidden. The prohibited uses include commercial use, "screen scraping", "database scraping", and any other activity intended to collect, store, reorganize or manipulate data on the pages produced by or displayed on this website.
Terms and Conditions
The content on this website is protected by copyright and other laws, and is intended solely for the private, non-commercial use by individuals. Any other reproduction, distribution or use of the content, in whole or in part, is specifically prohibited. Prohibited uses include commercial use, "screen scraping", "database scraping", and any other activity intended to collect, store, reorganize or manipulate the content of this website.
REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA's By-Laws, Rules, and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the professional real estate services provided by members of CREA.
The information contained on this website is based in whole or in part on information that is provided by members of CREA, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members, and assumes no responsibility for its completeness or accuracy.