286 Erb Street West

Erb / University286-290 Erb Street West presents a rare opportunity to acquire a fully renovated 13-unit concrete apartment building on over 1 acre in one of Waterloo’s most established and desirable corridors. The property consists of two parcels of land, one improved with the existing apartment building, parking, and excess land, and a second vacant parcel offering significant future potential. The building features spacious suites, with all units extensively renovated and three suites benefiting from a second bathroom, which is a rare feature in comparable apartment assets. Recent capital improvements include a new roof completed in 2025. The property is serviced by efficient gas boiler heating and operates with a single hydro meter. Beyond the strong in-place income, the site offers compelling long-term upside through intensification potential. A preliminary concept has been prepared for the development of 16 stacked townhomes, creating an attractive opportunity for investors seeking both stable cash flow and future redevelopment potential. Ideally located in Waterloo’s mature west end, the property benefits from close proximity to Uptown Waterloo, the University of Waterloo, Wilfrid Laurier University, major employment nodes, transit routes, parks, schools, and an abundance of retail and amenities along the Erb Street corridor. This highly accessible location continues to experience strong rental demand driven by Waterloo Region’s growing population, technology sector, and post-secondary institutions.