Added 1 month ago
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Type: Investment
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Property Type: Commercial
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Zoning: MU20
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Age: 16-30 years
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Taxes: 12165
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MLS®#: X9415788
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Days on Site: 2 Days
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Added: Oct 15, 2024 (1 month ago)
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Updated:
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Last Checked: 3 hours ago
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Listed By: HOMELIFE LANDMARK REALTY INC.
A great investment opportunity for a student apartment building in the core strip of Waterloo. It is close to three universities: 2.2 km to the UW, 1.2 km to WLU, and 0.4 km to Conestoga College, with direct bus Route 202 to all schools. The lot measures 64.05 x 158.65 feet, zoned MU20, with potential for higher-level building in the near future.This fourplex student building includes 20(4X5) bedrooms, 8 (4X2) bathrooms, and 4 (4X1) kitchens. There is a separate laundry room with coin-operated machines. The property offers 7 parking spots, an AC and central heating system. All kitchens are newly renovated; the roof was replaced in 2017, and all equipment is in great working condition.Built in 2002 specifically for students, no renting license is required. It has been operated and maintained by the owner who has since moved to BC.The total gross income for the past three years has been over $200K annually (excluding parking and laundry income). For serious buyers, the lease list can be provided. The annual fixed costs are about $40,000 excluding mortgage interest. Its fully leased now with on-call maintenance staff and 24hrs emergency contact. Don't miss your chance to explore this investment property !
Property
Status: Sale
Property Type: Investment
Property Type: Apartment
Age: 16-30
Area: Waterloo
Availability Date: TBA
Assessment Amount: $956,000
Assessment Year: 2023
Inside
Air Conditioning: Y
Utilities
Utilities: Available
Building
Heat Type: Gas Forced Air Closd
Freestanding: Y
Water Supply: Municipal
Parking
Garage Type: Outside/Surface
Covered Parking Spaces: 7
Fees
Tax Year: 2024
Tax Legal Description: PART OF LOT 4, PLAN 501, DESIGNATED AS PART 2 ON 58R-13822 ; WAT
Taxes: $12,165
Taxes Type: Annual
Land
Cross Street: University Ave East
Municipality District: Waterloo
Parcel Number: 223550233
Lot Depth: 159 Feet
Lot Frontage: 64 Feet
Lot Irregularities: 64.16 ft x 159.0 ft x
Zoning: MU20
Commercial Specific
Total Area: 10086
Total Area Metric: Sq Ft
Lot Code: Building
ÉÉC Mère-Élisabeth-Bruyère
Elementary: CatholicSt Agnes Catholic Elementary School
Elementary: CatholicÉcole élémentaire L'Harmonie
Elementary: PublicSandowne Public School
Elementary: PublicLincoln Heights Public School
Elementary: PublicMacGregor Public School
Elementary: PublicSt David Catholic Secondary School
Secondary: CatholicKitchener Waterloo Collegiate and Vocational School
Secondary: PublicBluevale Collegiate Institute
Secondary: PublicWaterloo Collegiate Institute
Secondary: PublicResurrection Catholic Secondary School
Secondary: CatholicCameron Heights Collegiate Institute
Secondary: Public
