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For saleMLS® X13131378

205-209 Erb Street W, Waterloo, ON N2L 1V6

$7,999,999

$206 / sq ft

5 months on market

Total area
38,768 sf
Lot
130.62 × 287.57 ft

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About this property

This land assembly, totaling 0.86 acres, presents a compelling development potential opportunity with 3 existing income-generating properties situated in the heart of Waterloos energetic uptown core. In 2024, a development concept was brought forward to the City of Waterloo, outlining a 12-story residential apartment building with 129 units. The plan includes 17 parking spaces located at grade behind the building, complemented by additional underground parking whose quantity has yet to be specified. The project adheres to the area's zoning regulations and complies with both the Official Plan and applicable Zoning By-Laws, including matching the scale and height of surrounding developments. This prime location lies within one of Waterloos most desirable neighborhoods and falls inside the Willis Way Protected Major Transit Station Area (PMTSA), where minimum parking requirements are waived under Bill 185. The vision for the residential development centers around connected urban living, offering future residents immediate access to restaurants, boutiques, entertainment, and cultural attractions. With nearby schools, green spaces, institutions, and modern infrastructure enhancements, this site is exceptionally well-positioned to benefit from long-term growth, sustained demand, and increasing value. The seller and their representative make no guarantees about the property's future use or development potential regardless of any of the favorable information noted. The buyer is fully responsible for investigating all current and future matters related to the property and future development. Image of the 12 story building in the listing is merely a virtual rendering to help give some perspective on what may be possible.

Property details

Property

Property type
investment
Interior size
38,768 sq ft
Lot size
130.62 × 287.57 ft
Zoning
RMU-40
Possession
Flexible

Interior

Heating
Other
Cooling
No

Costs

List price
$7,999,999
Property taxes
$15,936 / year (2025)
Price per sq ft
$206

Listing

MLS® number
X13131378
Status
For sale
Listed
May 15, 2026
Days on market
174
Last updated
August 7, 2026
Listing brokerage
CENTURY 21 B.J. ROTH REALTY LTD.

Price & sale history

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Before you make an offer

What this home costs beyond the asking price, and how that price compares to what else is on the market.

How this price compares

This home is priced above most comparable listings — about 88% of comparable multi-unit / investment listings in Waterloo are asking less.

$524KMedian $2.20M$6.91M
This home
$206 / sq ft
Comparable median
$475 / sq ft

Based on 8 comparable active multi-unit / investment listings in Waterloo. These are asking prices, not sale prices.

Mortgage estimate

Down payment20.0% · minimum $1,600,000
$1,600,000
Interest rate5-year fixed, illustrative only
4.49%
Amortization
Principal & interest
$35,386.69
Property tax (est.)
$1,327.98
Estimated monthly
$36,715

Estimate only. Excludes CMHC insurance premiums, which apply below 20% down, and does not constitute a mortgage approval or an offer of credit.

Land transfer tax

Payable on closing, on top of the purchase price.

Ontario
$186,475
Total due on closing
$186,475

An estimate on the asking price of $7,999,999. Rates current as of September 2026; confirm the final figure with your real estate lawyer.

Listing courtesy of CENTURY 21 B.J. ROTH REALTY LTD.. Listing data is provided in part by the Toronto Regional Real Estate Board (TRREB) and is deemed reliable but is not guaranteed accurate. Information is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties. Data is updated every 15 minutes.

$7,999,999

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Comparable sales nearby

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