139 Elgin Crescent
Waterloo, N2J 2S5
FOR SALE
$999,900
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3 + 3
BEDROOMS 2
BATHROOMS 1 + 1
KITCHENS 6 + 7
ROOMS X13522576
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Property Description
Investor Alert - Rare Opportunity to Acquire a Fully Stabilized, Rental Licensed 3+3 Bedroom Property in One of Waterloo's Most Proven Rental Locations.Welcome to 139 Elgin Crescent, a turnkey income-producing asset offering the combination investors are actively seeking: strong cash flow, excellent tenant quality, and long-term income certainty. The property is fully leased under a multi-year agreement through to at least April 30, 2027, generating $5,970 per month plus utilities ($71,640 annually), providing immediate cash flow with virtually no leasing risk.This home with registered accessory apartment features two self-contained 3-bedroom units, each with its own kitchen and bathroom, making it ideally configured for the Waterloo student rental market. Situated on a mature 50 foot x 127 foot lot within walking distance of Wilfrid Laurier University, the University of Waterloo, Uptown Waterloo, shopping, restaurants, transit and everyday amenities, the location has consistently demonstrated strong tenant demand.The property has benefited from numerous updates over the years, including roof, furnace, air conditioning, wiring, plumbing and bathroom updates. Recently completed vinyl plank flooring throughout the main floor living room, hallway and all three upstairs bedrooms provides a fresh, modern appearance while offering the durability investors appreciate.Additional features include large basement egress windows, shared laundry, an attached garage (real bonus in this area), double-wide driveway parking, fenced backyard and an expansive stone patio. Whether you're expanding an existing portfolio or seeking a dependable hands-off investment in one of Ontario's perennially strongest rental markets, this is a rare opportunity to acquire a fully licensed, fully leased, and professionally maintained rental asset with predictable income already secured well into 2027. A true turnkey investment-buy today and collect strong rent tomorrow.
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Nearby Intersections
Property Features
Accessory Apartment, Carpet Free, In-Law Suite, In-Law Capability, Primary Bedroom - Main Floor, Water Heater Owned, Water Softener
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Property Details
Address
139 Elgin Crescent
City
Postal Code
N2J 2S5
Property Type
Duplex, Duplex
Zoning
R1
Lot Size
50' x 127'
Acreage
6,382.0 Feet
Taxes
$6,746 (2026
Basement
Walk-Up, Finished, Separate Entrance
Heat Type
Forced Air
Heat Source
Gas
Water
Municipal
Parking Spaces
2
Garage Type
Attached
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Listing contracted with Royal Lepage Wolle Realty
Certified Legal Basement Apartment/In law suite/Detached raised Bungalow/Separate Entrance/ Immediate Possession/ Investors & first time buyers Incredible, competitively-priced opportunity in sought-after Uptown Waterloo! Detached raised bungalow featuring a certified legal basement apartment with separate entrance and full kitchen - an ideal in-law suite, mortgage helper, or income-generating rental unit. Bright basement thanks to raised-bungalow design. Shares one set of utilities with the main floor. Vacant and available for immediate possession. Main Floor: Breakfast bar, backsplash, stainless-steel appliances.Primary bedroom with walk-out to deck. 3 bedrooms, 1 bath. Legal Basement Apartment: Full kitchen, separate entrance, walk-out to garage. 2 bedrooms, 1 bath. Parking: 1 garage + 2 driveway spaces (3 total). Lot: 50' x 151' - deep lot with future potential. Recent Updates: 2 brand new washrooms (2026). Upstairs Rang hood & stove (2026). Fresh paint (2026). Dishwasher (2025). Water softener (2025, owned). Fridge (2021). Laundry pair (2021). Roof approx. 7 years. Most windows updated 2020. Tankless water heater (owned). Furnace (Brand new Rented - 2025) and A/C unit in good working condition. Unbeatable location - minutes to Uptown Waterloo, Conestoga College, University of Waterloo, Wilfrid Laurier University, shopping, and public transit. Perfect for investors, multi-generational families, or buyers looking to live upstairs while the basement apartment helps cover the mortgage.
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LEGAL DUPLEX | RENT BOTH OR LIVE IN ONE UNIT & RENT OUT THE OTHER An exceptional opportunity to own a fully legal duplex with over $300,000 in renovations, offering the perfect combination of rental income, beautiful living spaces, and long-term flexibility. Whether you're an owner-occupier looking to offset your mortgage, an investor seeking a turnkey property, or a multi-generational family wanting separate living spaces, this beautifully renovated home delivers. The main-floor unit features two bedrooms, including an impressive oversized primary bedroom. The bright, spacious living room is filled with natural light and flows into a large eat-in kitchen. A three-piece bathroom with a walk-in shower completes this level. The upper unit is truly spectacular, featuring two bedrooms plus a den ideal for a home office, reading room, or additional living space. Soaring vaulted ceilings and glass detail surrounding the top of the staircase create an open-concept feel. The bright eat-in kitchen features a large island overlooking the spacious living room, along with additional space perfect for an office, sitting area, or flex space. A three-piece bathroom with a large walk-in shower completes the level. Abundant windows and pot lighting enhance the bright, contemporary feel throughout. Outside, a private backyard, a large concrete driveway provides parking for up to six vehicles, while the double detached garage offers exceptional parking, storage, and workspace options. Located close to highways, shopping, restaurants, schools, transit, and all amenities, this remarkable legal duplex combines extensive renovations, income potential, versatility, and an outstanding location.
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