196 Allen Street E Waterloo, Ontario N2J 1K1
$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. (id:47351)
Property Details
| MLS® Number | 40794998 |
| Property Type | Multi-family |
| Amenities Near By | Public Transit, Schools, Shopping |
| Equipment Type | Other, Water Heater |
| Features | Paved Driveway, Laundry- Coin Operated |
| Parking Space Total | 6 |
| Rental Equipment Type | Other, Water Heater |
Building
| Bathroom Total | 3 |
| Bedrooms Total | 6 |
| Basement Development | Finished |
| Basement Type | Full (finished) |
| Constructed Date | 1958 |
| Cooling Type | None |
| Exterior Finish | Brick Veneer |
| Foundation Type | Poured Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Radiant Heat |
| Stories Total | 2 |
| Size Interior | 2,637 Ft2 |
| Type | Triplex |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Land Amenities | Public Transit, Schools, Shopping |
| Sewer | Municipal Sewage System |
| Size Depth | 184 Ft |
| Size Frontage | 50 Ft |
| Size Irregular | 0.21 |
| Size Total | 0.21 Ac|under 1/2 Acre |
| Size Total Text | 0.21 Ac|under 1/2 Acre |
| Zoning Description | R4 |
https://www.realtor.ca/real-estate/29223343/196-allen-street-e-waterloo
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January 07 2026 05:18:39
REALTORS® Association of Hamilton-Burlington
Royal LePage Wolle Realty