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For saleMLS® X13604606

316 King Street N, Waterloo, ON N2J 2W6

$14,880,000

$523 / sq ft

3 months on market

Total area
28,438 sf
Lot
230.79 × 125 ft

What's special

  • Underground parking
  • Yes

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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

This property's sale history is hidden

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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.

$524KMedian $2.20M$4.85M
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

Down payment20.0% · minimum $2,976,000
$2,976,000
Interest rate5-year fixed, illustrative only
4.49%
Amortization
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.

$14,880,000

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Comparable sales nearby

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Nearby sold prices are hidden

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