216 King St S
Waterloo, N2J1R3
For Sale
$2,195,000
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Apartment
CATEGORY5,784 Sq Ft
TOTAL AREAX9255767
MLSIDContact Us
Property Description
Rare find in Uptown Waterloo. This purposely built rental property comprises 5-unit townhome-style suites with terraces located in the heart of the city. Potential to expand size to 20-35 unit building on site. Can build up to 6-storeys. A large renovation was completed in 2020/21 including electrical and plumbing. Total floor area is 5,784 SF. Flat roof approx. 10-years old & sloped roof shingles replaced in 2017. This is a rare opportunity! City Planning report Available to expand size of the building. Site is designated Medium Density which permits a maximum height of 20 meters on Schedule B1. Enjoy the positive cashflow until you want to develop or hold and sell to a developer. This property is a central key property to the assembly with the two adjacent properties.
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Extras
If property was redeveloped with all studio and one-bedroom units this would allow for up to 36 units. If the redevelopment proposal included some two-bedroom units the number of permitted units would increase.
Property Details
Category
Apartment
Usage
Apts-2 To 5 Units
Zoning
U2 20 (Uptown Mixed-Use)
Total Area
5,784 Sq Ft
Lot Size
66' x 124'
Taxes
$10,625 (2024)
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Listing contracted with Chestnut Park Real Estate Limited
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