316 King Street N
Waterloo, N2J 2W6
$14,880,000
Listed 87 days ago · MLS® X13604606
About this home
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
- Type
- Investment
- Lot
- 230.79 × 125 ft
- Garage
- Underground
- Property tax
- $114,581 (2026)
- Municipality
- Waterloo
Heating, cooling and services
- Heating
- Gas Forced Air Open
- Air conditioning
- Yes
- Water and sewer
- Sanitary+Storm
- Utilities
- Available
Building and exterior
- Building area
- 28,438 Square Feet
More
- Possession
- IMMEDIATE
- Cross street
- K I N G & U N I V E R S I T Y
- Business type
- Apts - Over 20 Units
Location
Location is approximate. See nearby homes on the map
Recent sales nearby
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The neighbourhood
Getting around Very walkable
- 🚇 Laurier - Waterloo Park LRT1.4 km
- 🚇 University of Waterloo LRT1.4 km
Within a 10-minute walk: 5 grocery stores, 59 cafés and restaurants, 4 parks, 3 pharmacies. Nearest grocery: India Food and Grocery (500 m). Nearest park: Veterans' Green (450 m).
Schools nearby
Elementary
- Winston Churchill Public School
EQAO: Gr 6 reading 88%, math 56%16 min walk - École élémentaire catholique Mère-Élisabeth-Bruyère French
EQAO: Gr 6 reading 95%, math 68%1.3 km - Lincoln Heights Public School
EQAO: Gr 6 reading 75%, math 47%1.4 km - École élémentaire L'Harmonie French
EQAO: Gr 6 reading 90%, math 79%1.5 km
Secondary
- Waterloo Collegiate Institute
EQAO: Gr 9 math 57%, literacy test 85%5 min walk - St. David Catholic Secondary School Catholic
EQAO: Gr 9 math 67%, literacy test 97%11 min walk - MacGregor Public School15 min walk
EQAO: share of students meeting the provincial standard (2024–25). Ontario average: Gr 6 reading 86%, math 51%; Gr 9 math 55%; literacy test 83%.
Closest schools, not school zones. Check which school serves this address with the school board before relying on it.
Who lives here postal area N2J
- Owners / renters
- 53% / 47%
- Median household income
- $74,500
- Average age
- 42
- Children under 15
- 12%
- Homes
- 35% detached, 35% high-rise
- Commute by transit
- 7%
- Population
- 20,899
Languages spoken most at home besides English: Mandarin 1.8%, Arabic 1%, German 0.7%, Spanish 0.7%.
Safety
Crime Severity Index for Waterloo Region (Kitchener) police: 67 vs 57 for Ontario (2025).
Police-reported figures for the whole police service area, not this street. Rates use the area’s resident population.
Distances are approximate. Places © OpenStreetMap contributors. Neighbourhood figures: Statistics Canada, 2021 Census. School results: EQAO via Ontario Data Catalogue (Open Government Licence – Ontario). Crime Severity Index: Statistics Canada.
Living here
Commute
To downtown Kitchener: 4 km. Transit times · Driving times
Noise Nothing major nearby
No highway within 500 m, rail line within 300 m, or airport flight path nearby.
Distances from the map, not noise measurements. Visit at rush hour to judge for yourself.
Internet High-speed
50/10 Mbps or faster available here by cable, fibre or DSL (the federal high-speed target).
From the federal broadband map. Check exact speeds and providers for the address.
Roads, rail, airports and planned stations © OpenStreetMap contributors. Internet: Innovation, Science and Economic Development Canada, National Broadband Data.
Listed by RE/MAX REALTY SPECIALISTS INC..
Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.