172 Elgin Crescent, Waterloo ON N2J 2S6

Licensed Dwelling with Walkout Basement in Prime Waterloo Location – A Turnkey Investment Opportunity! 3 bedrooms up and 2 in the lower unit . 3 bedroom unit will be vacant August 31th .
Outstanding opportunity to own a licensed 2-unit brick bungalow with a loft and walkout basement, ideally located just steps to Uptown Waterloo, WLU, University of Waterloo, Conestoga College, shopping, and the LRT. This versatile property is perfect for investors, multigenerational living, or parents seeking housing for university students.
The main level features a bright, functional layout with two bedrooms plus a loft bedroom, an eat-in kitchen with updated counter and faucet (2022), living room, and a 3-piece bathroom. An enclosed front porch and side entry offer practical access and added charm.

The fully finished lower level—renovated in 2017—includes large windows, a separate entrance, a generous family room with walkout to a covered patio, two bedroom, a 4-piece bathroom, and a stylish second kitchen. The basement also houses a large utility room and laundry (2020 full-size stackables), cold cellar, and plenty of storage.

This home has been thoughtfully maintained and upgraded, including:

50-year steel roof,
New furnace (2022)
New main floor fridge (2024)
Vinyl plank flooring (2019)
Updated basement windows (2018/2019)
New water softener (2019)
Eavestroughs and garage door (2020)
Custom window blinds in basement (2022)
The deep, fully fenced backyard features a 9′ x 12′ shed, ideal for extra storage or future creative use. Hardwood floors in the main floor bedrooms , Vinyl plank in the living room and hallway .
With a valid Waterloo rental license, this property is move-in or rent-out ready, offering excellent income potential in a sought-after location.
Whether you’re an investor looking for solid returns, or a buyer seeking flexible living with mortgage-helper potential, this one checks all the boxes.