- Investment Opportunity
- August 15, 2024
- 2,195,000
- Potential to Expand
offered at: $2,195,000
Info
Property Type: Multi- FamilyÂ
Secondary Type: Apartments
Zoning:Â U2 20
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Gross Building Area: 8,395 SF, 2 FloorsÂ
Year Built/Year Renovated: 1928/2020Â
Units: 5
- 5 Unit Apartment in the heart of Uptown Kitchener
- Potential to expand size to a 20-36 unit building on the site
- Can build up to 6-storeys
- 67 ft. frontage on King St. S. across from the Sun Life Building
- Total Floor Area: 5,784 SF
- 5 units currently with 11 bedrooms
- City Planning Report Available to expand size of the building up to 36 bedrooms
- Rare Investment Opportunity
property details
Prime Investment Opportunity in the Heart of Uptown Waterloo
Discover a rare gem in the bustling and highly sought-after Uptown Waterloo. This purpose-built rental property offers an exceptional investment opportunity with its 5-unit, townhome-style suites, each featuring private terraces—ideal for tenants who appreciate outdoor space within the vibrant city center.
Key Property Features:
Potential for Expansion: Situated on a prime site with immense potential, this property can be expanded into a 20-35 unit building, making it a lucrative investment for those looking to maximize returns. The site is zoned for Medium Density Residential, allowing for a maximum height of 20 meters under Schedule B1, with the possibility to build up to 6 storeys.
Recent Renovations: A comprehensive renovation completed in 2020/21 ensures the property is up-to-date with modern standards. Upgrades include new electrical and plumbing systems, providing peace of mind for potential investors.
Durable Roofing: The flat roof was replaced approximately 10 years ago, and the sloped roof shingles were updated in 2017, offering long-term durability.
Spacious Layout: The total floor area spans 5,784 square feet, providing ample space for current tenants and future development potential.
Strategic Location & Investment Appeal:
This property is not just an excellent standalone investment but also holds strategic significance in potential land assembly with two adjacent properties, making it a key piece in larger development plans. Enjoy positive cash flow from the current rentals while you plan for future development, or hold onto it as a valuable asset in the heart of Waterloo’s most desirable neighborhood.
With the city’s ongoing growth and demand for quality housing, this property offers both immediate income and significant future value. The city planning report, available upon request, outlines the full potential of this site, making it a compelling choice for investors and developers alike.
Don’t miss out on this unique opportunity to own a centrally located, income-generating property with substantial development potential. Whether you’re looking to expand, develop, or hold for future sale, this property provides unparalleled possibilities in one of Waterloo’s most vibrant communities.
Visit the website for additional information and photo gallery.
http://maisonetteswaterloo.com/
Photos & Floor plans
