316 King Street N, Waterloo, ON N2J 2W6
$14,880,000
$523 / sq ft3 months on market
- Total area
- 28,438 sf
- Lot
- 230.79 × 125 ft
What's special
- Underground parking
- Yes
About this property
A rare opportunity to acquire a prominent King Street address in the heart of Waterloo, anchored by an existing 10-storey residential building with a proven rental history. Strategically located within walking distance to the University of Waterloo, Wilfrid Laurier University, and Conestoga College Waterloo Campus, this property sits in one of the region's most desirable rental corridors, surrounded by constant demand from students, professionals, and urban residents. Built in 2009, the existing building has remained fully rented since completion, offering investors immediate in-place income, stability, and long-term holding value in a high-growth market. The additional upside makes this opportunity truly exceptional. The same lot benefits from approved zoning for a 14-storey condominium development, allowing for a total project of 123 condominium apartments with a mix of one, two, and three-bedroom units. This gives the purchaser the rare ability to secure strong existing cash flow today while unlocking significant future development potential. For builders, developers, and strategic investors, the groundwork has already been advanced. A full team of architects, planners, and builders is available and ready to assist with execution, if required. This is more than a development site. It is an income-producing asset with a clear path to growth in one of Waterloo's strongest urban locations.
Property details
Property
- Property type
- investment
- Interior size
- 28,438 sq ft
- Lot size
- 230.79 × 125 ft
- Zoning
- Residential Mixed-Use
- Possession
- IMMEDIATE
Interior
- Heating
- Gas Forced Air Open
- Cooling
- Yes
Exterior & services
- Garage
- Underground
- Sewer
- Sanitary+Storm
Costs
- List price
- $14,880,000
- Property taxes
- $114,581 / year (2026)
- Price per sq ft
- $523
Listing
- MLS® number
- X13604606
- Status
- For sale
- Listed
- July 24, 2026
- Days on market
- 103
- Last updated
- November 3, 2026
- Listing brokerage
- RE/MAX REALTY SPECIALISTS INC.
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 100% of comparable multi-unit / investment listings in Waterloo are asking less.
- This home
- $523 / sq ft
- Comparable median
- $416 / sq ft
Based on 8 comparable active multi-unit / investment listings in Waterloo. These are asking prices, not sale prices.
Mortgage estimate
- Principal & interest
- $65,819.26
- Property tax (est.)
- $9,548.40
- Estimated monthly
- $75,368
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
- $358,475
- Total due on closing
- $358,475
An estimate on the asking price of $14,880,000. Rates current as of September 2026; confirm the final figure with your real estate lawyer.
Listing courtesy of RE/MAX REALTY SPECIALISTS INC.. 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.
Comparable sales nearby
What similar homes in this area actually sold for.
Nearby sold prices are hidden
Recent closed sales for comparable homes in this area — the numbers that tell you whether the asking price is realistic.
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