Welcome to this unique investment opportunity located at 115 Allen Street East in Waterloo, situated on an expansive 40' x 266' lot in the prime Mary Allen neighborhood. This 1,677 sq ft home offers significant potential for a custom build or a full renovation. The property is zoned Res-4 and features three bedrooms, one bathroom, separate living and dining rooms, and an unfinished attic. Additionally, the site includes ample parking and a large 16' x 30' garage/shop equipped with 240v set up for woodworking equipment, a partial basement and attic space. The location is highly connected, offering close proximity to Mary Allen Park, the Spur Line Trail, Google, Grand River Hospital, Uptown Waterloo, and Downtown Kitchener. This is a rare chance to unlock the full potential of a property in a rapidly growing community. Please contact me to schedule a viewing or for further information.