253 Lester Street Unit# 401 Waterloo, Ontario N2L 3W6
$514,900Maintenance,
$721.42 Monthly
Maintenance,
$721.42 Monthly253 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:56248)
Property Details
| MLS® Number | 40822088 |
| Property Type | Single Family |
| Neigbourhood | Northdale |
| Amenities Near By | Place Of Worship, Schools, Shopping |
| Features | No Pet Home |
Building
| Bathroom Total | 2 |
| Bedrooms Above Ground | 5 |
| Bedrooms Total | 5 |
| Appliances | Microwave, Refrigerator, Stove |
| Basement Type | None |
| Constructed Date | 2009 |
| Construction Style Attachment | Attached |
| Cooling Type | Central Air Conditioning |
| Exterior Finish | Stucco |
| Heating Type | Forced Air |
| Stories Total | 1 |
| Size Interior | 1,158 Sqft |
| Type | Apartment |
| Utility Water | Municipal Water |
Parking
| Visitor Parking |
Land
| Access Type | Highway Access |
| Acreage | No |
| Land Amenities | Place Of Worship, Schools, Shopping |
| Sewer | Municipal Sewage System |
| Size Total Text | Unknown |
| Zoning Description | Gr |
Rooms
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Main Level | Bedroom | 14'3'' x 7'6'' | ||
| Main Level | Bedroom | 8'5'' x 11'5'' | ||
| Main Level | Bedroom | 8'8'' x 11'9'' | ||
| Main Level | Bedroom | 11'0'' x 8'8'' | ||
| Main Level | Bedroom | 8'5'' x 11'0'' | ||
| Main Level | 4pc Bathroom | Measurements not available | ||
| Main Level | 4pc Bathroom | Measurements not available | ||
| Main Level | Dining Room | 14'11'' x 9'5'' | ||
| Main Level | Living Room | 14'11'' x 9'3'' | ||
| Main Level | Kitchen | 12'11'' x 11'5'' |
https://www.realtor.ca/real-estate/29631296/253-lester-street-unit-401-waterloo
Interested?
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April 21 2026 01:49:09
REALTORS® Association of Hamilton-Burlington
Benjamins Realty Inc.