Waterford Tower II — Rental Market Data

Waterford Tower II has two active rental listings as of August 31, 2026, spanning a price range of $2,800 to $3,500 per month with an average and median asking rent of $3,150 per month. The two units average 975 square feet at a blended asking rate of $3.33 per square foot, with the 1-Bedroom + Den layout accounting for 50 percent of active inventory and the 2-Bedroom tier holding the remaining 50 percent. Current listings lean toward larger, multi-room executive footprints rather than compact entry-level suites, as both available units exceed 750 square feet.

The dominant active layout at Waterford Tower II is the 1-Bedroom + Den, with one listing representing 50 percent of available inventory at an average asking rent of $2,800 per month across 750 square feet and a rate of $3.73 per square foot. The 2-Bedroom tier also holds one listing at 50 percent share, asking $3,500 per month for 1,200 square feet at $2.92 per square foot. Both tiers are single-listing samples, so no multi-unit pricing depth exists within either bedroom category at this time.

Waterford Tower II's active asking rents range from a minimum of $2,800 per month to a peak of $3,500 per month, producing a $700 spread or 25 percent differential between the entry and top listings. The median asking rent sits at $3,150 per month. The entry-level suite is a 1-Bedroom + Den measuring 750 square feet at $3.73 per square foot, while the peak listing is a 2-Bedroom at 1,200 square feet priced at $2.92 per square foot, reflecting the inverse relationship between suite size and per-square-foot rate within this small sample.

Waterford Tower II's active den premium and the associated square-footage delta between den-equipped and non-den suites cannot be reliably quantified from the current two-listing sample. Marginal cost per square foot for additional den space is therefore uncalculated. Active parking stall premiums also cannot be reliably isolated due to an anomalous outlier or insufficient paired sample in the data, so no specific monthly parking fee can be quoted for either active listing.

Waterford Tower II's active asking rent of $3,150 per month and $3.33 per square foot both sit below the Mimico submarket asking benchmarks of $3,313 per month and $4.43 per square foot, a 24.8 percent discount on a rate basis. The nominal rent gap narrows when adjusted for size: the building's active suites average 975 square feet, which is 227 square feet larger than the submarket implied average of 748 square feet, meaning the higher absolute dollar figure is driven by expansive footprint rather than a premium rate. Waterford Tower II currently represents 2 out of 51 available listings in the Mimico submarket, or roughly 3.9 percent of total active inventory.

Waterford Tower II's average realized lease rent of $2,745 per month sits $1,177 below the overall comp benchmark of $3,922, a gap driven primarily by the building's 650-square-foot average suite versus the 1,077-square-foot comp average. Against Waterford Tower I (2087 Lake Shore Blvd W, 0.08 km, three closed leases), the subject commands a $78 higher monthly rent at $2,667 for the comp, with the comp averaging $3.71 per square foot on 717 square feet. Newport Beach I & II (2111 Lake Shore Blvd W, 0.07 km, two closed leases) posted an average rent of $5,400 at $3.35 per square foot on 1,613 square feet, meaning the subject trades at a $2,655 lower monthly rent. Grenadier Landing (5 Marine Parade Dr, 0.11 km, one closed lease) recorded an average of $3,700 at $4.11 per square foot on 900 square feet, placing the subject at a $955 lower monthly rent. Waterford (2095 Lake Shore Blvd W, 0.02 km) recorded zero closed leases over the trailing 180 days and therefore offers no realized rent benchmark for comparison.

Waterford Tower II's leased rate of $4.27 per square foot on a 650-square-foot average suite commands a per-square-foot premium over every active nearby competitor while providing materially fewer interior square feet, making the lower nominal rent a function of compact footprint rather than weaker asset valuation. Versus Waterford Tower I (0.08 km), the subject trades at a $0.56 per square foot premium (15.1 percent higher) while providing 67 fewer interior square feet, and the $78 higher monthly rent reflects the rate differential on a nearly identical suite scale. Against Newport Beach I & II (0.07 km), the subject commands a $0.92 per square foot premium (27.5 percent higher) but provides 963 fewer interior square feet, so the $2,655 lower monthly rent is entirely a footprint effect—the per-unit rate is actually stronger. Grenadier Landing (0.11 km) shows the tightest spread: the subject trades at a $0.16 per square foot premium (3.9 percent higher) while providing 250 fewer interior square feet, resulting in a $955 lower monthly rent that again traces back to the smaller interior area rather than a discount in per-unit value.

Waterford Tower II offers a 14-feature amenity suite that includes an outdoor pool, yoga studio, and car wash bay—three lifestyle elements absent from every active competitor in this immediate cluster. Newport Beach I & II (2111 Lake Shore Blvd W) provides indoor fitness, sauna, and a rooftop terrace but lacks any aquatic programming, dedicated yoga space, or vehicle-washing convenience. Waterford Tower I (2087 Lake Shore Blvd W) includes an indoor pool and hot tub but omits the outdoor pool, yoga studio, and car wash bay that distinguish the subject. Grenadier Landing (5 Marine Parade Dr) leans toward media and convenience-store amenities with no pool, yoga, or car-wash offering at all. The zero-volume reference building Waterford (2095 Lake Shore Blvd W) mirrors most of the subject's features but still lacks the outdoor pool. This aquatic-plus-wellness package, combined with a business centre and meeting room for remote-work tenants, positions Waterford Tower II as the lifestyle-forward option for young professionals and small families in Mimico who prioritize resort-style recreation and flexible workspaces over the larger but amenity-thinner suites at Newport Beach or Grenadier Landing.