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:4069)
| Address |
216 KING STREET S |
| List Price |
$2,195,000 |
| Property Type |
Multi-family |
| Type of Dwelling |
Multi-Family |
| Area |
Ontario |
| Sub-Area |
Waterloo |
| Floor Area |
5,784 Sq. Ft. |
| Lot Size |
66 x 124.08 FT Sq. Ft. |
| MLS® Number |
X9255767 |
| Listing Brokerage |
CHESTNUT PARK REAL ESTATE LIMITED
|
| Postal Code |
N2J1R3 |
| Zoning |
U2 20 (Uptown Mixed-Use) |
| Site Influences |
Highway, Public Transit |
