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209 - 188 King Street S
, Waterloo
$349,900
TURNKEY UPTOWN WATERLOO INVESTMENT! This stylish and beautifully updated 1-bedroom condo at The RED is now leased to an excellent tenant at $1,895/mo + hydro beginning November 1, 2026, offering investors immediate rental income in one of Waterloo's most vibrant and walkable neighbourhoods. Thoughtfully designed, the 604 sq ft suite features hardwood floors, an updated kitchen with granite countertops, stainless steel appliances and plenty of cabinetry, flowing into a bright, open-concept living space. A shiplap feature wall with built-in display ledges adds character, while oversized windows provide plenty of natural light. Step outside onto the private balcony, a welcome extension of the living space. The bedroom comfortably fits a queen-sized bed and features an oversized armoire for additional storage. The renovated bathroom, custom electronic blinds, in-suite laundry and six appliances complete the suite. One underground parking space and a private storage locker are included. Residents enjoy a fitness centre, party/lounge room, rooftop terrace and bike storage in a professionally managed building. The location is hard to beat, with Vincenzo's and The Bauer Marketplace just across the street, the ION LRT outside your door, and Uptown Waterloo restaurants, cafés, shops and Waterloo Park all within easy walking distance. Convenient to both universities, Grand River Hospital and Waterloo's tech employers. Condo fees include heat and water. Tenant must be assumed. An excellent opportunity to add a well-located, already-tenanted Uptown Waterloo condo to your investment portfolio.
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| Type | Condo Apartment |
| Style | 1 Storey/Apt |
| Approx. Age | 11-15 |
| Size | 600-699 sq. ft. |
| Maintenance Fees | $383 |
| Locker | Exclusive |
| Balcony | Open |
| Exposure | South West |
| Parking Type | Underground |
| Parking Spaces | 1 |
| Parking Features | None |
| Property Tax | $4,082 |
| mls© Number | X13665058 |
| Listed By | RE/MAX Solid Gold Realty (II) Ltd |
Listing History
- No recent sale history for this listing.
- No recent lease history for this listing.
Could you afford this home?
What the bank counts
This home's actual carrying costs, payment stress-tested at 6%
- Mortgage, tested at 6%
- $1,791
- Property tax
- $340
- Heat allowance
- $150
- Condo fees, half counted
- $192
- Housing costs
- $2,473 / mo
Lenders cap these at 39% of gross income — that sets the number.
Income needed
$76,000
gross annual household income
- Payment at 4%
- $1,472 / mo
- Cash down
- $69,980
Assumes no other monthly debts · 25-yr amortization
Full affordability checkInvestment Analysis
Estimated rent, cap rate and monthly cash flow for this property
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