Zumper
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Updated 3 Days Ago

Highlights

  • Pet Friendly

Location

137 University Ave W, Waterloo, ON N2L 3E6, CAN|Downtown Waterloo
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Contact

Management

Morguard Investments Limited

Leasing office

(226) 790-4036

Property Overview

Avenue Apartments is a highly rated community with an overall expert score of 8.8 out of 10, highlighted by perfect 10 out of 10 ratings for both price and amenities, indicating exceptional value and a strong offering of features. Its 9 out of 10 location rating points to excellent convenience to daily necessities and points of interest, while a 7 out of 10 trustworthiness score reflects a detailed, transparent property description that helps set clear expectations. Outdoor spaces further enhance its appeal, especially for pet owners.

This summary uses Zumper’s proprietary data. “Zumper Expert Ratings” and “Great for” are based on our internal analyses of market trends and renter insights.

Zumper Expert Rating

8.8
Very Good
With a solid 8.8 out of 10 overall, Avenue Apartments is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Avenue Apartments has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.

Great for

  • Pet owners

Floor plans

0 Bedroom, 1 BathroomStudio1 bath$1,487 /mo1 unit available
1 Bedroom, 1 Bathroom1 bed1 bath723 sqft$1,744 /mo1 unit available
2 Bedroom, 1 Bathroom2 bed1 bath1,281 sqft$1,795 /mo1 unit available

Let's explore this property.

Amenities for Avenue Apartments

Apartment Amenities

BalconyHeat
Hot WaterIn-suite Storage
Laminate FlooringOpen Concept
Social Space: Media Room

Appliances

DishwasherFridge
MicrowaveStove

Building

Cats OKDogs OK
ElevatorFitness Center
Fully Equipped Fitness FacilitiesMonitored Security Cameras
Multimedia LoungeOnsite Laundry
Residents LoungeSocial Space: Game Room
Wheelchair Accessible

Grounds

Assigned ParkingStorage

Services

On-Site ManagementOnsite Professional Management

Neighborhood

Close to Major HighwaysClose to Parks
Close to Public TransitUniversity Of Waterloo
Wilfrid Laurier University

Other

Certified Rental Building
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.

Policies and fees

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Deposit

One-time.

$1,744

OPTIONAL FEES

Dog Policy

Allowed

Cat Policy

Allowed

Contact for more information on pet policy.

Parking Policy

Surface Lot

Surface Lot

Parking Fee

Monthly. 2 surface lots max.

$125

Questions about this property’s policies and fees?

Building details

Property details

Lease terms12 months

About Avenue Apartments

HomeApartments in WaterlooDowntown Waterloo Avenue Apartments

Avenue Apartments is a welcoming rental community ideally located between the University of Waterloo and Wilfrid Laurier University. Groceries, pubs, restaurants and more are all conveniently located right across the street at University Shops Plaza. Take a study break and spend some time in nature at Waterloo Park – it's just a short walk away. You'll find walking trails through wooded areas and Silver Lake, a charming animal farm and more. Board public transit right outside your door and enjoy easy access to the Conestoga Parkway. Being late for class will be a thing of the past here as you're only a short walk from campus. The convenience continues inside your new home. Enjoy our on-site laundry facilities, fully-equipped fitness facilities, and a multi-media lounge where you can hang out with your friends and neighbours. If you want some quiet time, relax on your private balcony. Your pet will love living here, too. Our on-site management team means you never have to worry about maintenance issues and our available on-site parking and visitor parking means you and your friends never have to hunt for a spot. Avenue Apartments is a Certified Rental Building. Avenue Apartments (137 University Ave W) wants to help make this chapter of your story as comfortable, convenient and memorable as it can be. Why settle for less? Located minutes from the University of Waterloo and Wilfred Laurier University, this building is steps from entertainment and shopping. Some popular restaurants near you are Maxwell's, Tim Hortons, William's & Crabby Joes, If you love the outdoors you are minutes to Laurel Trail, Centenial Park, and Veteran's Garden. You have easy access to the Conestoga Parkway and transit routes right outside your door.


Go to property website

Zumper Expert Rating

Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.8
/10
Very Good
With a solid 8.8 out of 10 overall, Avenue Apartments is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, Avenue Apartments has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
How we rated Avenue Apartments
Price·10A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
Avenue Apartments offers an excellent balance between price and value. It's priced competitively for its amenities, location, and other key features. Compared to the median price per bedroom in the area, this property is less than, or about the same as, nearby rentals, so residents can expect great value without too many compromises on their desired standard of living.
Amenities·10A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
Avenue Apartments stands out as a premier property with an impressive array of amenities and an excellent standard of living. Residents here have access to many of the most popular and desired perks—pets allowed—making this one of the top choices for renters seeking unparalleled comfort and convenience.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
Avenue Apartments is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While Avenue Apartments does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·7A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
Avenue Apartments provides some information about the features available in the community and its apartments, making it a reliable option for prospective renters. Renters should ask additional questions about amenities and non-negotiable items they are looking for.

Avenue Apartments is great for:

Pet owners

  • Outdoor spaces are available at this property

Property highlights

We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.

How Avenue Apartments compares to other nearby properties.

Considerations

Distance from grocery stores
The nearest grocery store is 4.1 miles away
Distance from transit
More than 4.0 miles from public transportation

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Rent trends in Downtown Waterloo

Studio apartments at Avenue Apartments cost about 98% more than the average rent price for studios in Downtown Waterloo.

1-bedroom apartments here are priced 2% lower than 1-bedrooms in Downtown Waterloo.

If you decide to upgrade your space, you can expect 2-bedrooms at Avenue Apartments to be 17% less than the average for similarly sized apartments in Downtown Waterloo.

Median rents as of Oct 24 2026.
Downtown Waterloo
Waterloo
A table of studio rental data trends in Waterloo
MonthMedian Rent
November 2024$895
December 2024$895
January 2025$895
February 2025$895
March 2025$895
April 2025$895
May 2025$825
June 2025$795
July 2025$795
August 2025$788
September 2025$795
October 2025$795
November 2025$795
December 2025$795
January 2026$920
February 2026$795
March 2026$795
April 2026$795
May 2026$786
June 2026$784
July 2026$795
August 2026$795
September 2026$1,295
October 2026$1,487
A table of studio rental data trends in Downtown Waterloo
MonthMedian Rent
November 2024$895
December 2024$895
January 2025$895
February 2025$895
March 2025$875
April 2025$795
May 2025$795
June 2025$795
July 2025$768
August 2025$1,027
September 2025$795
October 2025$1,173
November 2025$1,428
December 2025$1,418
January 2026$1,245
February 2026$795
May 2026$750
June 2026$750
July 2026$750
August 2026$754
September 2026$750

Affordability calculator

Can I afford to live at 137 University Ave W?

Bedrooms

Rent-to-income ratio

30%

Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income

$59,480/yr

With your selected rent-to-income ratio, you'd ideally want to make $59,480 annually to afford this studio monthly rent price of $1,487.
For more information on rent affordability, visit our rent calculator.

Getting around Waterloo near 137 University Ave W

Walking

7/10
Grab your reusable bags–many shops and stores are within walking distance.

Driving

10/10
Commuting is easy with multiple accessible routes and plenty of parking.

Cycling

8/10
Peddling isn’t a problem with cyclist-friendly streets and bikeable destinations.

Transit

8/10
Popular public transit options are just a short walk from this location.

Points of interest for 137 University Ave W, Waterloo

Groceries

8/10
At least one supermarket within a 10-minute walk

Shopping

6/10
Several shops within a few minutes’ walk

Cafes

6/10
Several cafés within a few minutes’ walk

Restaurants

7/10
Variety of restaurants within a few minutes' walk

Primary schools

7/10
At least one elementary school within a 15-minute walk

High schools

7/10
At least one high school within a 15-minute walk

Parks

8/10
Very large amount of park space within a few minutes' walk

Nightlife

3/10
Some bars within walking distance

Explore the area around 137 University Ave W

Macro Foods
95 King St S
BulkBarn
66 Bridgeport Rd E
Walmart Supercentre
70 Bridgeport Rd E
Sobeys
94 Bridgeport Rd
Paul & Mallory's No Frills
24 Forwell Creek Rd

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