196 Allen Street E, Waterloo - Sold for $912,000 | Modern Solution Realty

196 Allen Street E, Waterloo

196 Allen Street E in Waterloo - 8 bedroom, 3 bathroom. Sold for $912,000. Listed at $935,000.

Income with Updates! This purpose-built, partially owner occupied triplex beckons for your immediate attention. This is NOT a drive by. With great tenants and major cap ex done recently, this is an easy add to your investment portfolio. Recent improvements include: new water line to building, sump pump install, new front door, separate hydro meters, wide plank vinyl flooring in all units. Kitchens in all units updated. New bathrooms in Unit 1 and Unit 2.Buy with confidence: City-Approved Rental Licenses on the tenanted units means that you can rent/operate this building legally - a truly turn key operation that generates strong income! Current rents: Unit 1 - owner occupied, Unit 2 - $1882.86, Unit 3 - $1796.49. Current annual gross income of $44,152 (noting no income from owner occupied unit). Stack another $20,000+ Gross Income + by renting the owner occupied unit. Unit 2 departing end of February with opportunity to re-set rent to market. With good proximity to Uptown Waterloo and WRHN, (Waterloo Regional Health Network); steps to Sobey's Plaza and public transit; walking distance to Wilfrid Laurier and Iron Horse Trail, this building is a sought after location. Quick access to expressway. Looking for an opportunity to enter into the lucrative Kitchener-Waterloo real estate investment market? This is The One.

Property Details

  • Property Type: Mortgage
  • Style: 2-Storey
  • Square Footage: 1750 sqft
  • Basement: Full
  • Heating: Gas
  • Cooling: None
  • Parking: 6 spaces
  • Property Taxes: $5,110/yr
  • Postal Code: N2J 1K1

See more sold prices and current listings with Modern Solution Realty. 1% commission listing services available.