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$514,900
Ontario,Waterloo
For Sale Active
253 LESTER Street Unit# 401, Waterloo, Ontario N2L3W6
  • 5
  • 2
  • 1,158 Sqft
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Basic Details
Description

253 Lester St. #401 is a turnkey student rental investment property in the heart of Waterloo’s university district. This spacious 5-bedroom, 2-bathroom condo is purpose-built for student living and delivers strong, consistent rental income with minimal effort. Just steps from Wilfrid Laurier University and the University of Waterloo, this location attracts reliable tenants year after year. The thoughtfully designed layout

features approximately 1,158 sq ft of living space, including five generously sized bedrooms, two full bathrooms, and a large open-concept common area highlighted by an L-shaped kitchen and a bright living/dining room — perfect for gatherings, study sessions, or relaxing after class (recently updated with new furniture). Condo fees include heat and water, keeping operating costs low. The building offers elevator access, a brand-new onsite laundry facility for added tenant convenience, central air conditioning, and proximity to public transit, shopping, restaurants, and all essential amenities. Street parking and additional building parking options are available. Whether you’re an experienced investor or looking for your first student rental property, this unit offers hands-off potential with proven gross rental income potentially exceeding $45,000 per year (based on current market rents in the building). Many similar units in the complex are fully tenanted with long-term leases, delivering stable cash flow in this ever-growing university hub. Don’t miss your chance to own a worry-free (excellent onsite management available), income-generating property in one of Waterloo’s most sought-after student locations. Schedule your viewing today! (id:62650)

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Basic Details
  • Property Type: Residential
  • Listing Type: For Sale
  • Listing ID: 40822088
  • Price: $514,900
  • Bedrooms: 5
  • Bathrooms: 2
  • Square Footage: 1,158 Sqft
  • Year Built: 2009
  • Status: Active
  • Property Attached Yn: 1
  • Property Sub Type: Single Family
  • Office Key: 76844
Features & Appliances
Features
  • Heating System: Forced air
  • Cooling System: Central air conditioning
  • Basement: None
  • Parking: Visitor Parking
  • Exterior Features: Stucco
  • Sewer: Municipal sewage system
Address Map
  • Location: CA, Ontario, Waterloo, 417 - Beechwood/University, N2L3W6
  • Street: LESTER
  • Street Number: 253
  • Street Suffix: Street
  • Longitude: W81° 27' 54.6''
  • Latitude: N43° 28' 25.9''
Additional Information
  • Water Source:
  • Lot Features:
  • Stories: 1.0
Financial
  • Association Fee: 721.42
  • Association Fee Frequency: Monthly
  • Tax Annual Amount: 3809
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Listing updated: 2026-04-21 04:34:47
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Listing Information
  • List Agent Key: 1967385
  • List Office Key: 76844
  • Modification Timestamp: 2026-04-21T01:50:33Z
  • Originating System Name: Cornerstone Association of REALTORS®
  • Status Change Timestamp: 2026-04-21T01:49:09Z
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Listing updated: 2026-04-21 04:34:47
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