Address
400 ALBERT Street, Waterloo, ON
Price
$ 13,499,999
Property Attributes
- ID#40478738
- TypeMulti-Family
- CityWaterloo
- Neighbourhood421 - Lakeshore-Parkdale
- Postal CodeN2L 3V3
- Style
- Price$ 13,499,999
- Bedrooms109
- Bathrooms59
- Half Bathrooms0
- Sqr Footage28873
Data Source:
Canadian Real Estate Association (CREA)
Property Description
Uncover an extraordinary student rental investment opportunity at 400 Albert St, Waterloo. This property is a rare multi-unit treasure that holds immense financial potential for savvy investors. Comprising an impressive 109 units, this real estate gem features a diverse mix of accommodations, including 26 spacious 4-bedroom units, a generous 3-bedroom unit and a cozy 2-bedroom unit. The location is nothing short of ideal, situated just 1 kilometer from the renowned University of Waterloo, 950 meters from Wilfrid Laurier University and a short 2.1 kilometers from Conestoga College. What sets this property apart from the competition? It's the unique combination of factors that make this investment a standout. First, the numbers: The current rental rates are already attractive for seasoned investors seeking to calculate cap rates and cash flow returns. These figures alone would capture the attention of any investor. However, what truly elevates this investment to the next level is the fact that these rents are currently below market value. This presents a golden opportunity for savvy investors to maximize their long-term returns. Long-term potential: Beyond the immediate financial gains, the long-term potential of this investment is where it truly shines. With tenant turnover rates approximately 25-35% per year, you have the unique advantage of adjusting rents upward as turnover occurs, thereby optimizing your income. This not only ensures a steady cash flow but also allows you to offer quality housing to students from three prestigious institutions, enhancing the desirability of your units in the long run. These real estate investment opportunities are rare. The potential for substantial returns, both now and in the future, makes 400 Albert St an essential addition to your investment portfolio. Act quickly, book a showing and secure this ticket to supercharging your real estate portfolio and unlocking a future filled with financial success and growth. (id:7434)
General Features
| Ammenities | Park, Place of Worship, Playground, Public Transit, Schools, Shopping |
|---|---|
| Building Cooling Type | Central air conditioning, None |
| Building.storiestotal | 4 |
| Community Features | Quiet Area |
| Features | Paved driveway, Laundry- Coin operated |
| Foundation Type | Poured Concrete |
| Location Description | From Columbia St W turn to Albert St and continue until you reach the corner Albert St and Cardill Cres. |
| Ownership Type | Freehold |
| Parking Space Total | 27 |
| Property Type | Multi-family |
| Zoning Description | Residential - RMU-20 |
Interior Features
| Basement Development | Finished |
|---|---|
| Basement Type | Full (Finished) |
| Building Fireplace Present | False |
| Building Heating Fuel | Natural gas |
| Building Heating Type | Forced air |
Exterior Features
| Exterior Finish | Brick |
|---|---|
| Land Amenities | Park, Place of Worship, Playground, Public Transit, Schools, Shopping |
| Sewer | Municipal sewage system |
Amenities
- Views
- New Construction
- Adult 55+
- Lease To Own
- No Strata Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in N2L 3V3
Price
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