392-398 Erb W Street, Waterloo, ON N2L 1W6

Prime Development Opportunity Waterloo Site 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.