Walkable Urban Opportunity - 40 Union Street East! Set in the heart of the sought-after Mary Allen neighbourhood, this classic three-bedroom, one-bathroom home offers a rare chance to create something special in one of Waterloo's most vibrant, tight-knit communities. With approximately 1,200+ sq ft of above-grade living space, plus an unfinished attic and a full unfinished basement with unusually generous ceiling height, the home provides exceptional upside for those looking to renovate, reimagine, and add value. Built in the Roaring 1920s, the property retains an impressive collection of original features and architectural details that speak to its vintage charm, including flat wood 8-inch baseboards with shoe molding, cornice-style door headers, antique cast iron floor registers, and red oak narrow strip flooring in two of the bedrooms. These period elements present an excellent canvas for a thoughtful restoration or a modern transformation that honours the home's character. A new roof (2024) offers peace of mind and a strong starting point for future improvements. Ideal for investors, renovators, or buyers eager to personalize a home in a prime location, the next owner should plan to address typical era-related upgrades, including removal of knob-and-tube wiring, replacement of galvanized plumbing, and updating the cast iron plumbing stack-a common and manageable scope for homes of this vintage. With a Walk Score of 90 (Very Walkable), daily conveniences are just steps away: Uptown shops and restaurants, Grand River Hospital, LRT access, and nearby trails. Whether you're a savvy flipper, a creative renovator, or a young couple looking to build equity in a walkable, character-rich neighbourhood, 40 Union Street East represents a compelling opportunity to invest in both lifestyle and long-term value.