311 Spruce St

Nearly $112,000 Projected Gross Annual Income Available Here! Discover A Prime Real Estate Opportunity In The Heart Of Waterloo, Just A Two-Minute Stroll From Wlu And A Short Walk To The Lively Amenities Of Uptown, With Convenient Access To The Uw. This Strategically Positioned, Triplexed Building Presents A Rare Prospect For Private-Sector Investors, Boasting Three City-Approved Rental Licenses. Unit A Has Undergone Recent Renovations, Featuring Updated Flooring And Fresh Paint. Unit B Offers Significant Potential For Increased Annual Rental Income Upon Tenant Departure And Is Currently Undergoing Renovations (Paint And Flooring). Unit C Re-Rented For September, 2024 At $2775 Plus Electricity ($7500+ Annually More Than Current Rents. This Unit Impress With Spacious Common Areas. All Units Are Designed With Generously Sized Common Areas, In-Suite And Spacious Bedrooms Equipped With Individual Temperature Control. The Unit Mix Includes 3, 5, And 6 Bedroom Configurations, Providing Versatility And Catering To Various Tenant Needs. Parking Is Ample, And Each Unit Features Individual Electrical Meters. Units B And C Present An Additional Opportunity To Shift Electrical Costs To Tenants Upon Re-Rental, Contributing To Increased Profitability. The Roof, Recently Replaced In 2022, Ensures A Low-Maintenance Investment. This Is An Ideal Fit For A Range Of Investors, Whether You're A Veteran Investor Seeking A Foothold In The Lucrative Waterloo Rental Market, A Parent Looking For The Perfect Location For Your University-Bound Child, Or A University Employee Desiring Proximity To Work With The Added Benefit Of Strong Mortgage-Helper Income. The Property's Zoning May Open Doors To Future Development Opportunities When Combined With Adjacent Properties. Positive Cash Flow Opportunity With 35% Down And Additional Upswing Potential. Investor Worksheet Is Available To Demonstrate How This Property Can Work For You. Seize The Chance To Get Your Hands On This Money Maker!