151 University Avenue E, Waterloo, ON N2J 2W4, Waterloo, ON
Bath 8
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 !
Property Highlights
For Sale
MLS NO.
X9398686
Type
Residential Freehold
Sub Type
Fourplex
Bathrooms
8
Parking
7.0
Complete Property Details
Property Type
Residential Freehold
Sub Type
Fourplex
Transaction Type
For Sale
Status
Closed
Contract Status
Unavailable
MLS® Number
X9398686
Living Area Range
5000 +
Total Bedrooms
0
Bedrooms Above Grade
0
Total Bathrooms
8
Total Kitchens
4
Kitchens Above Grade
4
Rooms Above Grade
20
Interior Features
Central Vacuum
Fireplace
No
Central Vacuum Yn
Yes
Construction
Brick
Roof
Asphalt Shingle
Lot Width
64.0
Parking Features
Available
Parking Total
7.0
Covered Spaces
7.0
Garage Type
Other
Pool
None
Direction Facing
North
Cooling
Central Air
Heat Source
Gas
Heat Type
Forced Air
Internet Address Display Yn
Yes
Internet Entire Listing Display Yn
Yes
Full Address
151 University Avenue E, Waterloo, ON N2J 2W4
City
Waterloo
County / Region
Waterloo
Province / State
ON
Postal Code
N2J 2W4
Cross Street
University Ave East / Weber St
List Price
$2,499,900
Annual Taxes
$12,165
Tax Year
2024
Legal Description
PART OF LOT 4, PLAN 501, DESIGNATED AS PART 2 ON 58R-13822 ; WATERLOO
Possession Details
TBA
Listing Office
HOMELIFE LANDMARK REALTY INC.
Board
Toronto Regional Real Estate Board
Original Entry
2024-10-16T19:26:59Z
Media Updated
2024-10-17T15:30:56Z
Photos Updated
2024-10-17T15:30:56Z
Last Modified
2025-04-16T17:27:43Z
System Modified
2025-10-11T18:47:53.741822Z
MLS Status
Sold
Architectural Style
Other
Basement
Apartment
Ddfyn
Yes
Expiration Date
2025-04-30
Foundation Details
Concrete, Poured Concrete
Heat Source Multi
Gas
Heat Type Multi
Forced Air
Hstapplication
Included
Occupant Type
Tenant
Originating System Id
A00001796
Parcel Number
223550233
Parking Spaces
7
Public Remarks
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 !
