• 411 Canada/
• Real Estate/
• Ontario/
• Waterloo/

• 216 King St S, Waterloo, ON N2J 1R3

$2,195,000 ^{FOR SALE}

Investment

Lot: 66 x 124.08 ftTotal Area: 5,784 ft²
2024 Taxes: $10,625Maintenance Fees: $6,769

216 King St S
Waterloo, ON N2J 1R3

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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.

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Listed By	CHESTNUT PARK REAL ESTATE LIMITED
Data Provided By	Toronto Regional Real Estate Board
MLS® Listing Number	X9255767
Last Updated	Aug 23, 2024

Property Summary

Property Type	Investment More like this: Waterloo Investment for Sale
Use	Apartments - 2 to 5 Units
Business/Building Name	Maisonette Suites
Category	Apartment
PIN	224150188
Legal Description	LT 50 PL 385, SAVE & EXCEPT PT 5 ON WR838589
Occupancy	Tenant
Possession Date	Flexible
Taxes (2024)	$10,625
Tax Type	Annual
Maintenance Fees	$6,769
Directions/Cross Streets	King St. S. & John St. E.
Area	Waterloo

Price History

Interested in obtaining the full price history for this property?
Contact us!Contact us! Our real estate professionals would be happy to provide a complete listing history with historical sold prices and dates.

Detailed Information

Freestanding	Y
Lot	66 x 124.08 ft
Total Area	5,784 ft2
Approximate Age	51-99
Air Conditioning	N
Basement	Y
Garage Type	None
Heat Type	Gas Hot Water
Gross Income/Sales	$135,382
Net Income Before Debt	$90,732
Hydro Expense	$1,275
Water Expense	$2,495
Heat Expenses	$7,358
Insurance Expense	$5,040
Management Expense	$6,769
Operating Expenses	$44,650
Taxes Expense	$10,625
Other Expenses	$4,318
Year Expenses	$2,023
Expenses Actual/Estimated	Act
Area Influences	Major Highway, Public Transit
Sprinklers	N
Sewers	San+Storm
Utilities	Y
Water	Municipal
Lot/Bldg/Unit Code	Lot
Zoning	U2 20 (Uptown Mixed-Use)
Seller Property Info Statement	N

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