303 King St N
Waterloo, N2J2Z1
For Sale
$3,249,000
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Apartment
CATEGORY7,619 Sq Ft
TOTAL AREAX8342570
MLSIDContact Us
Property Description
Incredible Opportunity To Own A 12 Unit Apartment Building In A Prime Corner Location Between The University Of Waterloo & Wilfrid Laurier University. Potential To Increase Rents On A Few Units. Existing Assumable CMHC Insured Mortgage ($1,980,966 @ 1.98% w/40 Yr Amortization) Expiring Dec 2025. Seller Might Consider VTB. Potential Stand Alone Development Site Or Could Be Part Of Larger Assembly. Highest Density Zoning (MR25). Invest Now, Build Later.
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Property Details
Category
Apartment
Usage
Apts-6 To 12 Units
Zoning
NMU25
Total Area
7,619 Sq Ft
Office/Apartment Area
7,619 Sq Ft
Lot Size
116' x 117'
Taxes
$33,945 (2024)
Parking Spaces
12
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Listing contracted with Harvey Kalles Real Estate Ltd.
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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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