Matthew Tenk
Broker of Record
216 King Street S Waterloo, Ontario N2J 1R3
$2,195,000
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. **** EXTRAS **** If property was redeveloped with all studio and one-bedroom units this would allow for up to 36 units. If the redevelopment proposal included some two-bedroom units the number of permitted units would increase. (id:39551)
Business
| Business Type | Residential |
| Business Sub Type | Apartments |
| Name | Maisonette Suites |
Property Details
| MLS® Number | X9255767 |
| Property Type | Multi-family |
| Amenities Near By | Highway, Public Transit |
Building
| Fireplace Present | No |
| Heating Fuel | Natural Gas |
| Heating Type | Hot Water Radiator Heat |
| Size Interior | 5784 Sqft |
| Type | Multi-family |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Land Amenities | Highway, Public Transit |
| Size Depth | 124 Ft |
| Size Frontage | 66 Ft |
| Size Irregular | 66 X 124.08 Ft |
| Size Total Text | 66 X 124.08 Ft |
| Zoning Description | U2 20 (uptown Mixed-use) |
https://www.realtor.ca/real-estate/27294965/216-king-street-s-waterloo
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Toronto Real Estate Board
Chestnut Park Real Estate Limited
September 04 2024 04:47:34
