392-398 Erb Street W

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Mid-Rise Infill Opportunity with Holding Income in Uptown Waterloo Corridor

For Sale: Multi-Family
For Sale: Multi-Family
For Sale: Multi-Family
For Sale: Multi-Family
For Sale: Multi-Family
For Sale: Multi-Family

43.4536895, -80.5508981

Main Intersection

Erb Street West & Fischer-Hallman Road

Location

Waterloo Region, Waterloo

Address

392–398 Erb Street W
Waterloo ON N2L 1W6
Canada

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Land Information

Total Size

23,562 SF (0.541 acres)

Developable Acreage

0.541 acres

Land Use Designation

Mixed-Use Medium Density Residential

Zoning

RMU-20 (Residential Mixed-Use 20)

Frontage

132 FT

Depth

~183 FT

Current Use

4-unit, 2-storey apartment building | Single detached house

Permitted Uses

Multi-unit residential (e.g., apartments), Mixed-use buildings (residential above commercial), Townhouses (including freehold/stacked), Triplexes, Long-term care facilities, Assisted living facilities

Property Highlights

This site includes two adjoining properties totaling approximately 0.54 acres, located just minutes from both Uptown Waterloo and the University District. The site is currently improved with a four-unit apartment building and a single-family home, both of which are fully leased, providing immediate holding income. It is zoned Residential Mixed-Use 20 (RMU-20), which permits development of up to six storeys in height. A Site Plan Application has been conditionally approved for a 6-storey, 74-unit apartment building, helping to streamline the development timeline and reduce upfront planning risks for prospective buyers. Given its strategic location, preliminary development plans, and strong market fundamentals, 392–398 Erb Street West represents a compelling infill development opportunity—complete with holding income—in one of Waterloo’s most desirable growth corridors.