$1,500,000
395 Erb Street W, Waterloo, ON N2L 1W7
Listing courtesy of Benjamins Realty Inc.
$1,800,000
$223 / sq ft1 months on market
Rare opportunity to acquire a strategic development site just steps from Wilfrid Laurier University and within walking distance of nearly 20,000 full-time post-secondary students. Positioned along the highly sought-after King Street corridor, this property offers investors and developers the chance to secure a prime parcel in one of Waterloo Region's most dynamic growth areas.Conceptual plans prepared for the site illustrate a proposed 7-storey residential building featuring 42 apartment units and 54 bedrooms with a mix of 1-bedroom, 1-bedroom-plus-den, and 2-bedroom suites. Proposed gross floor area of approximately 2,550 m with 13 parking spaces and green space. At-grade parking eliminates the significant costs and complexities commonly associated with underground parking construction. The concept contemplates a modern urban mid-rise development designed to capitalize on the site's exceptional location and strong rental demand fundamentals.Unlike many development opportunities requiring lengthy land assembly negotiations, this offering presents a streamlined path forward with a single ownership group and a clear vision for the property's future. No complicated multi-owner assembly process. No fragmented land holdings. Just one site with significant redevelopment potential.The location is second to none. Residents can enjoy a short walk to Uptown Waterloo's restaurants, cafes, shopping, entertainment, major employers, and amenities. Public transit, including the ION LRT corridor, is easily accessible, further enhancing the site's appeal.Adding to the opportunity, the existing property is improved with a triplex, allowing purchasers to generate holding income while advancing planning and development objectives. This property offers both current cash flow and future redevelopment potential.Prime location. Existing income. Development upside. Opportunities of this scale and simplicity are increasingly difficult to find in Waterloo's core.
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What this home costs beyond the asking price, and how that price compares to what else is on the market.
This home is priced in line with comparable listings — about 57% of comparable vacant land listings in Waterloo are asking less.
Based on 14 comparable active vacant land listings in Waterloo. These are asking prices, not sale prices.
Estimate only. Excludes CMHC insurance premiums, which apply below 20% down, and does not constitute a mortgage approval or an offer of credit.
Payable on closing, on top of the purchase price.
An estimate on the asking price of $1,800,000. Rates current as of September 2026; confirm the final figure with your real estate lawyer.
Listing courtesy of ROYAL LEPAGE WOLLE REALTY. 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.
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$1,500,000
Listing courtesy of Benjamins Realty Inc.