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Est. payment | /mo
35,747 SqFt
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Est. payment | /mo
35,747 SqFt
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 35,747 sqft
MLS Listing ID X13743048
Annual Tax Amount $159,705
Tax Year 2025
Property Sub-Type Investment
Property Description
The offering presents the opportunity to acquire a 100% freehold interest in 508 Beechwood Drive, Waterloo, Ontario (the "Property" or the "Site"), offered under a power of sale. The Property presents investors with the opportunity to acquire a 41-unit, 1982 vintage concrete apartment building in Waterloo's prestigious Beechwood neighbourhood, paired with an approved 139-unit infill development - a rare combination of in-place income and shovel-ready density in one of Canada's strongest multifamily markets.The Property is a 41-unit concrete apartment building offering spacious layouts averaging 737sf for one-bedrooms and 1,117 sf for two-bedrooms, with eight units currently vacant and available for immediate repositioning. The 33 occupied units carry an average in-place rent of$1,422 against average market rents of $2,133, providing a purchaser with a clear runway tomark rents to market as natural turnover occurs. The asset offers durable cast-in-place concrete construction with lower long-term capital requirements, while the Beechwood location continues to see strong tenant demand from Waterloo's professional renter base, the region's 29,000-person tech workforce, and the 100,000+ students enrolled across the University of Waterloo, Wilfrid Laurier, and Conestoga College.508 Beechwood Drive Property Specific Details Land Area: 1.83 acres PINs: 226851372, 226851373 Suites: 41 (13 one-bed, 1 one-bed + den, 26 two-bed, 1 three-bed penthouse)GLA: Approx. 55,930 sf Parking: 60 spaces Zoning: RMU-20 (Residential Mixed-Use) & OS3 (Conservation) with Site Specific Provisions Approved Infill: 165,265 sf GFA / 139 units NOI: $451,037
Location
Province ON
County Waterloo
Area Waterloo
Zoning MR100
Interior
Cooling Partial
Exterior
Utilities Available Available
Lot Frontage 266.65
Others
Security Features No
ParcelsYN No
Listed by CUSHMAN & WAKEFIELD
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