ON > Waterloo
Waterloo, ON N2J 2W4,151 University AVE E
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Waterloo, ON N2J 2W4,151 University AVE E
Waterloo, ON N2J 2W4,151 University AVE E
Waterloo, ON N2J 2W4,151 University AVE E
Waterloo, ON N2J 2W4,151 University AVE E
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Jeff Somlo

Jeff Somlo

+1(647) 998-3693
$ 2,499,900
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151 University AVE E Waterloo, ON N2J 2W4

8 Baths

UPDATED:

10/17/2024 03:30 PM

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

Total Parking Spaces 7

Building

Foundation Concrete, Poured Concrete

Listed by HOMELIFE LANDMARK REALTY INC.
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151 University AVE E