253 LESTER Street Unit# 401, Waterloo, Ontario, N2L3W6
MLS: 40822088 | Apartment (Condo)
$514,900
Property 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:64974)
Quick Facts
- Property Type: Apartment (Condo)
- Bedrooms: 5 (5 above)
- Bathrooms: 2
- Living Area: 1,158 sq ft (107.6 m²)
- Above Grade: 1,158 sq ft (107.6 m²)
- Year Built: 2009
- Ownership: Condo/Strata
- Attached: Yes
Costs
- Annual Taxes: $3,809.00
- Condo/HOA Fee: $721.42 / monthly
Listing Provided by: BENJAMINS REALTY INC.
Board: Cornerstone Association of REALTORS®
Data provided via CREA DDF®.
Detailed Features
Interior & Systems
- Heating: Forced air
- Cooling: Central air conditioning
- Basement: None
- Appliances: Refrigerator, Stove, Microwave
Exterior & Construction
- Exterior: Stucco
- Sewer: Municipal sewage system
- Water: Municipal water
Lot & Land
- Features: No Pet Home
- Zoning: GR
Community & Neighbourhood
- Subdivision: 417 - Beechwood/University
Room Details (10 rooms)
Listing Information
Listing History
MLS listing activity for 253 LESTER Street Unit# 401, Waterloo, Ontario, N2L3W6 — dates reflect when changes were recorded in the DDF
Location & Neighborhood
🚗 Travel times
Neighborhood Walkability
Mortgage & Cost Calculators
Nearby Homes ?Nearby Homes — Search CriteriaSearch Radius1 kmPrice Range±30%Match BedroomsNoMatch BathroomsNo
301 - 261 LESTER STREET, Waterloo
Condo - Apartment$519,000
$3,892/yr taxListing Courtesy of ROYAL LEPAGE SIGNATURE REALTY
261 LESTER Street Unit# 301, Waterloo
Condo - Apartment$519,000
$3,891/yr taxListing Courtesy of ROYAL LEPAGE SIGNATURE REALTY
271 LESTER Street Unit# 303, Waterloo
Condo - Apartment$549,900
$3,713/yr taxListing Courtesy of RE/MAX TWIN CITY REALTY INC.
271 LESTER Street Unit# 203, Waterloo
Condo - Apartment$569,900
$3,713/yr taxListing Courtesy of RE/MAX SOLID GOLD REALTY (II) LTD.
271 LESTER Street Unit# 102, Waterloo
Condo - Apartment$569,900
$3,726/yr taxListing Courtesy of RE/MAX SOLID GOLD REALTY (II) LTD.
280 LESTER Street Unit# 323, Waterloo
Condo - Apartment$409,800
$3,536/yr taxListing Courtesy of GREEN CITY REALTY INC.
253 ALBERT Street Unit# 216, Waterloo
Condo - Apartment$379,900
$3,878/yr taxListing Courtesy of Chestnut Park Realty Southwestern Ontario Ltd., Brokerage
251 HEMLOCK Street Unit# 201, Waterloo
Condo - Apartment$438,888
$2,854/yr taxListing Courtesy of Royal LePage Wolle Realty
330 PHILLIP Street Unit# S-110, Waterloo
Condo - Apartment$450,000
$3,346/yr taxListing Courtesy of RE/MAX Aboutowne Realty Corp.
145 COLUMBIA Street W Unit# 611, Waterloo
Condo - Apartment$475,000
Listing Courtesy of Chestnut Park Realty Southwestern Ontario Ltd., Brokerage
Similar Homes ?Similar Homes — Search CriteriaSearch Radius5 kmPrice Range±5%Match Home TypeYesMatch BedroomsYes
301 - 261 LESTER STREET, Waterloo
Condo - Apartment$519,000
$3,892/yr taxListing Courtesy of ROYAL LEPAGE SIGNATURE REALTY
261 LESTER Street Unit# 301, Waterloo
Condo - Apartment$519,000
$3,891/yr taxListing Courtesy of ROYAL LEPAGE SIGNATURE REALTY
8 - 2089 BEAVERBROOK AVENUE, London North (North M)
Condo - Row / Townhouse$514,900
$3,772/yr taxListing Courtesy of ROYAL LEPAGE TRILAND REALTY
607 AIRPORT ROAD, Petawawa
House$514,900
$2,538/yr taxListing Courtesy of SIGNATURE TEAM REALTY LTD.
441 VICTORIA Road N, Guelph
Condo - Row / Townhouse$514,900
$2,698/yr taxListing Courtesy of RE/MAX REAL ESTATE CENTRE INC., BROKERAGE
439 ALICE Avenue, Kitchener
House$514,900
$2,863/yr taxListing Courtesy of RE/MAX TWIN CITY REALTY INC.
567 KEIL TRAIL North, Chatham
House$514,900
Listing Courtesy of ROYAL LEPAGE PEIFER REALTY Brokerage
111 GRACEHILL Crescent, Freelton
House$514,900
Listing Courtesy of RIGHT AT HOME REALTY BROKERAGE
297 BRITANNIA Avenue, Hamilton
House$514,900
$2,455/yr taxListing Courtesy of RE/MAX Escarpment Realty Inc.
35 MURRAY Street, Brantford
House$514,900
$3,242/yr taxListing Courtesy of Re/Max Escarpment Realty Inc.
Property Comparables ?Active Comparables — Search CriteriaSearch Radius2 kmPrice Range±15%Match Home TypeYesMatch BedroomsYes
301 - 261 LESTER STREET, Waterloo
Condo - Apartment$519,000
$3,892/yr taxListing Courtesy of ROYAL LEPAGE SIGNATURE REALTY
261 LESTER Street Unit# 301, Waterloo
Condo - Apartment$519,000
$3,891/yr taxListing Courtesy of ROYAL LEPAGE SIGNATURE REALTY
271 LESTER Street Unit# 303, Waterloo
Condo - Apartment$549,900
$3,713/yr taxListing Courtesy of RE/MAX TWIN CITY REALTY INC.
271 LESTER Street Unit# 203, Waterloo
Condo - Apartment$569,900
$3,713/yr taxListing Courtesy of RE/MAX SOLID GOLD REALTY (II) LTD.
271 LESTER Street Unit# 102, Waterloo
Condo - Apartment$569,900
$3,726/yr taxListing Courtesy of RE/MAX SOLID GOLD REALTY (II) LTD.
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253 LESTER Street Unit# 401, Waterloo, Ontario, N2L3W6