391 ERB Street, Waterloo, Ontario, N2L1W7

9,801 sq ft (0.22 ac) lotListed 156 days ago

Overview

This lot in Waterloo is for sale.

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Description

Offered together as a land assembly, 391, 393, and 395 Erb Street West comprise a combined 0.896-acre site (approximately 39,030 sq. ft.) in the highly desirable Waterloo West neighbourhood. Positioned along the Erb Street corridor, these properties benefit from convenient connectivity to Uptown Waterloo, the ION LRT, University of Waterloo, employment hubs, shopping, and everyday amenities. The site’s nearly 200' x 200' square configuration and large road frontage create an ideal canvas for future redevelopment. The properties fall within the City of Waterloo’s recently approved Community Planning Permit By-law – Erb Street Corridor, an innovative planning framework designed to streamline development approvals. The site offers an opportunity to redevelop a 6-storey mixed-use building or stacked townhouse condominiums, with up to 450 bedrooms per hectare. Existing residential dwellings on the properties may provide interim rental income while future plans and approvals are pursued. An excellent opportunity to participate in Waterloo Region’s continued expansion and intensification with a large-scale redevelopment. (id:66096)

Property Details

MLS®: 40833589
Property Type: Vacant Land
Zoning: RMU-20 and By-law No. 2026-034
Lot Size: 9,801 sq ft (0.22 ac)
Frontage: 50 ft
Basement: None
Ownership: Freehold
Property Tax: $5,658/yr
Listed: 156 days ago

Services

Water: Municipal water
Sewer: Municipal sewage system
Utilities: Natural Gas, Electricity, Telephone

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

156d

Waterloo listings, avg age

67d

List price

$985K

Homes here sell faster than most markets

Sold homes in this market spent an average of 35 days on the market over the past year, against a median of 48 days across the markets we publish.

Homes here sell close to asking price

Homes in this market sold for an average of 98.7 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

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Listed by BENJAMINS REALTY INC. · Angela Freiburger

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N2L)

This home lists at $985,000, about 14.2× the local median household income of $69,500.

Carrying it typically needs a household income of about $192,405 (20% down, 25-yr amortization, stress-tested) — roughly 177% above the area median.

Median household income: $69,500
Population: 37,953
Median age: 29.8
Owner / renter: 37% / 63%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA N2L)

$985,000

For sale

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Financing

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391 ERB Street, Waterloo - Vacant Land for Sale