A rare find near the University of Waterloo, where most student housing is now high-rise condos and detached houses are increasingly hard to come by. This raised bungalow with an addition holds two spacious 5-bedroom units, 10 good-sized bedrooms in total, laid out in the traditional groups of five that students prefer. Unit A is the bright upper level. Unit B is a two-storey unit with a full kitchen plus a kitchenette, two living rooms, a study and a den, and oversized windows that fill the lower level with natural light. Extensive recent updates include: New kitchen and standing shower in Unit B (2026), New roof (2024), Unit A kitchen (2024), Furnace, central A/C and all windows (2023)There's also a 5-car parking lot at the rear, a large back deck and outdoor area, and a separate coin laundry room with its own entrance. Close to UW, Laurier and major bus routes, this is a turnkey, low-maintenance investment in one of Waterloo's most in-demand rental areas. It's a rare and ideal opportunity for a parent investor looking for a home for their son or daughter and friends, with no need to assume someone else's tenants. After 20 years of proud ownership, the seller has decided to retire, making this a rare chance to acquire a well-maintained, long-held property.