311 Spruce St, Waterloo

311 Spruce St, Waterloo N2L3M6

2-Storey, Triplex Property
9 + 9 Rooms Total, 3 + 3 Kitchens

55.59 x 125.20

Finished, Walk-Up Basement
Brick, Vinyl Siding Exterior

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 (5 Beds) Has Undergone Recent Renovations, Featuring Updated Flooring And Fresh Paint. Unit B (6 Beds) Offers Significant Potential For Increased Annual Rental Income Upon Tenant Departure. Unit C (3 Beds) 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 Large 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 Explore 311 Spruce Street. Schedule A Viewing With Me Or Your Favourite Realtor Today!

Pt Lt 35 Subdivision Of Lt 13 German Company Tract City Of Waterloo As In 1534255; Waterloo

4-piece on main level
4-piece on 2nd level
3-piece on bsmt level

Main Level, 1.57m x 2.04m
4 Pc Bath

Main Level, 4.13m x 2.02m

Bsmt Level, 1.86m x 2.10m

Main Level, 3.51m x 2.18m
4 Pc Bath

Main Level, 3.53m x 4.97m

Bsmt Level, 2.31m x 2.61m
3 Pc Bath

2nd Level, 3.56m x 2.23m
4 Pc Bath

2nd Level, 3.58m x 4.20m