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Est. payment /mo
4 Beds
2 Baths
UPDATED:
Key Details
Property Type Condo
Sub Type Condo Apartment
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1000-1199
MLS Listing ID X14129066
Style Apartment
Bedrooms 4
Maintenance Fees $721
Annual Tax Amount $3,809
Tax Year 2025
Property Sub-Type Condo Apartment
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!
Location
Province ON
County Waterloo
Area Waterloo
Rooms
Family Room No
Basement None
Kitchen 1
Interior
Interior Features None
Cooling Central Air
Inclusions Microwave, Refrigerator, Stove
Laundry In Building
Exterior
Parking Features None
Amenities Available Elevator
Exposure North East
Balcony None
Building
Building Age 16-30
Foundation Concrete
Locker None
Others
Senior Community No
Pets Allowed No
ParcelsYN No
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Listed by Benjamins Realty Inc.
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