151 UNIVERSITY AVENUE E Active Save Request In-Person Tour Request Virtual Tour
Waterloo,ON N2J2W4
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,999 sqft
Price per Sqft $500
MLS Listing ID X9398686
Originating Board Toronto Regional Real Estate Board
Property Description
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 ! (id:24570)
Location
Province ON
Interior
Heating Forced air
Cooling Central air conditioning
Exterior
Garage No
View Y/N No
Total Parking Spaces 7
Private Pool No
Building
Sewer Sanitary sewer