392-398 Erb Street W Waterloo, Ontario N2L 1W6
$2,690,000
Prime Development Opportunity WaterlooSite Plan Approved for a 6-storey, 73-unit rental apartment, ideal for CMHCs MLI Select program. Located on 0.561 acres (24,466 sq ft) with 74,981 sq ft GFA. Zoning: RMU-20. Includes 1.5 levels of underground parking (86 spaces). Existing gross income: $129K ($111K NOI). Price: $2.69M ($36/sq ft).Waterloo's median rent is $2,125/month, avg rent $2.71/sq ft. Avg income: $60,250. Household income (2020): $122,400.Strong alignment with MLI Select's affordability and energy efficiency criteria. Strategic location + approved plans = exceptional investment potential. (id:50787)
Property Details
| MLS® Number | X12102478 |
| Property Type | Business |
| Farm Type | Other |
Building
| Heating Type | Other |
| Size Interior | 1 Ac |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Size Depth | 183 Ft |
| Size Frontage | 130 Ft |
| Size Irregular | 130 X 183 Ft ; 71.93 Ft X 190.34 Ft X 71.90 Ft X 190.35 |
| Size Total Text | 130 X 183 Ft ; 71.93 Ft X 190.34 Ft X 71.90 Ft X 190.35 |
| Zoning Description | Gr |
https://www.realtor.ca/real-estate/28211925/392-398-erb-street-w-waterloo
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April 24 2025 08:51:18
Toronto Real Estate Board
Home Leader Realty Inc.