553 Teakwood Drive Waterloo, Ontario N2L 4L5
$700,000
7 bedroom licenced rental. Currently: Class A - 3 bedroom rental licence for the upper level & Class A - 4 bedroom rental licence for the lower level. This unique property stands out as a perfect choice for investors, particularly those who are parents of university students, offering a smart way to manage living arrangements while expanding your investment portfolio. —Highlights— • Design: A well-planned 3-bedroom bungalow complemented by a secondary 4-bedroom basement unit, featuring a separate side entrance for privacy and independence • Capacity: Boasting total 7 bedrooms in total, this property is well-equipped to accommodate a significant number of tenants • Amenities: 2 fully functional kitchens, spacious living areas, and separate laundry facilities cater to all the needs of student life • Location: Nestled in a quiet, safe residential neighbourhood, this property ensures a peaceful study environment • Accessibility: Just a 5-minute bus ride to the University of Waterloo, with the #9 bus stop right outside the front door. For those who prefer walking, the university is a comfortable sub-30-minute stroll away • Convenience: Grocery, drugstores, and restaurants are within a 2km radius; a breezy 18-minute bus ride. Conestoga Mall and transit links are 20 mins • Maintenance: The property is neat, tidy, and has been meticulously maintained, ensuring a hassle-free investment • Parking: A double-wide driveway provides ample space for up to 4 vehicles • Outdoors: A sizable yard, perfect for al-fresco study sessions, summer barbecues, and various lawn games • Additionally, a free-standing shed offers convenient bicycle storage. This property is not just a residence; it's a lifestyle choice for students seeking convenience, comfort, and a sense of community. As an investor, you're not just offering a place to stay; you're creating a home away from home for students, with the added benefit of a robust investment in one of Ontario's thriving educational hubs. (id:43503)
Property Details
| MLS® Number | 40813866 |
| Property Type | Multi-family |
| Amenities Near By | Park, Public Transit, Schools |
| Equipment Type | Water Heater |
| Features | Paved Driveway, Crushed Stone Driveway |
| Parking Space Total | 4 |
| Rental Equipment Type | Water Heater |
| Structure | Shed |
Building
| Bathroom Total | 2 |
| Bedrooms Total | 7 |
| Basement Development | Finished |
| Basement Type | Full (finished) |
| Constructed Date | 1967 |
| Cooling Type | None |
| Exterior Finish | Brick Veneer, Vinyl Siding |
| Foundation Type | Poured Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 1 |
| Size Interior | 2,022 Ft2 |
| Type | Duplex |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Land Amenities | Park, Public Transit, Schools |
| Sewer | Municipal Sewage System |
| Size Depth | 60 Ft |
| Size Frontage | 82 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | R1 |
https://www.realtor.ca/real-estate/29497446/553-teakwood-drive-waterloo
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March 20 2026 07:33:57
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