4
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$2,690,000
Est. payment /mo
New
392-398 Erb ST W Waterloo, ON N2L 1W6
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Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
MLS Listing ID X12102478
Annual Tax Amount $17,800
Tax Year 2024
Property Sub-Type Investment
Property Description
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.
Location
Province ON
County Waterloo
Area Waterloo
Interior
Heating Yes
Cooling No
Exterior
Utilities Available Yes
Lot Frontage 130.0
Lot Depth 183.0
Building
Lot Description Irregular Lot
Listed by HOME LEADER REALTY INC.