205-209 Erb St
Waterloo, ON N2L 1V6
Description
This land assembly, totaling 0.86 acres, presents a compelling development potential opportunity with 3 existing income-generating properties situated in the heart of Waterloos energetic uptown core. In 2024, a development concept was brought forward to the City of Waterloo, outlining a 12-story residential apartment building with 129 units. The plan includes 17 parking spaces located at grade behind the building, complemented by additional underground parking whose quantity has yet to be specified. The project adheres to the area's zoning regulations and complies with both the Official Plan and applicable Zoning By-Laws, including matching the scale and height of surrounding developments. This prime location lies within one of Waterloos most desirable neighborhoods and falls inside the Willis Way Protected Major Transit Station Area (PMTSA), where minimum parking requirements are waived under Bill 185. The vision for the residential development centers around connected urban living, offering future residents immediate access to restaurants, boutiques, entertainment, and cultural attractions. With nearby schools, green spaces, institutions, and modern infrastructure enhancements, this site is exceptionally well-positioned to benefit from long-term growth, sustained demand, and increasing value. The seller and their representative make no guarantees about the property's future use or development potential regardless of any of the favorable information noted. The buyer is fully responsible for investigating all current and future matters related to the property and future development. Image of the 12 story building in the listing is merely a virtual rendering to help give some perspective on what may be possible.
Key Facts
MLS® #
X13131374
Days on market
12
Listed
May 14, 2026
Updated
May 22, 2026
Tax
$15,936
Lot
130.62 × 287.57 Feet
Listing History
Buy/Sell history for 205-209 Erb St, Waterloo, ON
| Date Start | Date End | List Price | Price | Event | Listing ID |
|---|---|---|---|---|---|
| 2026-05-14 | N/A | $7,999,999 | N/A | For Sale | X13131374 |
Property Details
Property
Land
Additional Details
No additional details available
Rooms (12)
Room 1
Room 2
Room 3
Room 4
Room 5
Room 6
Room 7
Room 8
Room 9
Room 10
Room 11
Room 12
Comparable Sales
Estimated Market Value
$6,828,475
Range: $5,145,749 — $8,511,200
Estimated by AI based on market data. For informational purposes only.
Mortgage Tools
Mortgage calculator
Monthly Payment
$36,672
- Down payment$1,600,000
- Mortgage amount$6,399,999
- Total interest$4,601,601
- Total cost$12,601,600
Cash flow analysis
Total monthly payment
$38,000
Break-even down payment
100%
Location
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