316 King Street N,Waterloo, ON N2J 2W6
Waterloo, ON N2J 2W6
Description
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.
Details
| MLS # | X13604606 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | New |
| Year | 0 |
| Days On Site | 110 |
| Listing Provided By | RE/MAX REALTY SPECIALISTS INC. | X13604606 495313 |
Features
| SQ Feet | 28,438 |
|---|---|
| Acreage | 0.65 |
Interior
| Heating Yes / No | Yes |
|---|---|
| Cooling Yes / No | Yes |
| Cooling | Yes |
| Rooms Total | 0 |
Exterior
| Lot Features | Irregular Lot |
|---|---|
| Security Features | No |
Parking
| Attached Garage Yes / No | Yes |
|---|
Utilities
| Utilities | Available |
|---|---|
| Sewer | Sanitary+Storm |
Taxes
| Tax Annual Amount | 114580.8 |
|---|---|
| Tax Type | Annual |
| Tax Legal Description | 1Stly: Pt. Lot 74 Sub.Lot 13 G.C.T., Being Pt. 2 |
| Tax Year | 2026 |
Area Information
| Province | ON |
|---|---|
| County | Waterloo |
| City | Waterloo |
| Postal Code | N2J 2W6 |
| Listing VS Median (in N2J 2W6) | |
Price: $14,880,000 low | high Med: $7,584,500 sqft: 28,438 low | high Med: 15,469 $ / sqft: $523 low | high Med: $319 On site: 110 low | high Med: 72.5 | |
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Learn More About This Property
| Province | ON |
|---|---|
| County | Waterloo |
| City | Waterloo |
| Postal Code | N2J 2W6 |
| Listing VS Median (in N2J 2W6) | |
Price: $14,880,000 low | high Med: $7,584,500 sqft: 28,438 low | high Med: 15,469 $ / sqft: $523 low | high Med: $319 On site: 110 low | high Med: 72.5 | |
