151 University AVE E Active Save Request In-Person Tour Request Virtual Tour
Waterloo,ON N2J 2W4
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 5000 +
MLS Listing ID X9398686
Style Other
Annual Tax Amount $12,165
Tax Year 2024
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 !
Location
Province ON
County Waterloo
Rooms
Family Room Yes
Basement Apartment
Kitchen 4
Interior
Interior Features Central Vacuum
Cooling Central Air
Fireplace No
Heat Source Gas
Exterior
Garage Available
Garage Spaces 7.0
Pool None
Waterfront No
Roof Type Asphalt Shingle
Parking Type Other
Total Parking Spaces 7
Building
Foundation Concrete,Poured Concrete