| 375 King St N, Waterloo, Ontario
Offer Date: FIRST COME FIRST SERVE
Closing Date: October 2nd 2023
*The property is expected to be vacant on closing as the tenant has a firm closing date for a purchase closing on September 28th 2023. In the event that vacant possession cannot be obtained by the seller prior to closing for any reason, then the Buyer shall have the right but not the obligation to complete the transaction and accept the tenants, or cancel this agreement and have all deposits returned without interest or deduction.*
** Realtors bring us a client and add your commission on top of the purchase price**
About the Property
Checkout this condo consisting of 2 bedrooms 1 bath, with a footprint of 940sqft. The property is currently tenanted but expected to be vacant on closing. The condo fees include ALL utilities which include heat, air conditioning, hydro and water. There is also one underground parking space and storage locker included. Currently there is a mold situation that the building management has to repair due to a leak from an above unit. The leak is in the laundry room and it is expected that the drywall needs to be replaced. Listed as the cheapest condo unit in Waterloo, this property is perfect for an investor looking for a quick fix and flip, or student rental at a major discount!
About the Neighbourhood
This property is located in Waterloo, minutes from two major universities. Located just north of Columbia St E, this property is in constant demand for rent, as students are constantly looking for housing in the area. Waterloo is located just off of Highway 8 which connects Waterloo to the 401, and Downtown Kitchener. With two major universities (University of Waterloo and Wilfrid Laurier University) vacant units rarely sit on the market. With fantastic transportation available as well, specifically GO Bus routes that connect Waterloo to the GTA, this property is located perfectly for an end user or investor looking for an easy rental unit.
Property Details
- Condo unit
- 2 bedrooms
- 1 bathroom
- 940 sqft
- Large balcony
- Built in 1982
- Condo fees $894
- Includes water, hydro, heating, general common area maintenance
- Appliances are included
- Fuse panel
- Heating is Forced Air
- Cooling is Central Air
- Single parking spot (underground)
- Property taxes are $1743
Recommended Renovations
- Minor cosmetic renovation
- Fix the issue with the condo board with the leak in the utility room
- may need to replace drywall
- The seller has the option to leave junk behind so we would recommend budgeting for junk removal
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