27
$488,900 Sale
Listed 2 hours ago
253 Lester Street #401
· 5
· 2
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· 1158
Key Facts
Key facts for 253 Lester Street #401
Property Type
Other, Apartment
Parking
Street Parking Only,Visitor Parking 0 parking
MLS #
40874752
Size
1158 sqft
Basement
-
Listed on
2026-10-28
Lot size
-
Tax
$3,809 /yr
Days on Market
1
Year Built
2009
Maintenance Fee
$721.42 /mo
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 Univers...ity 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 current gross rental income of $42,000 per year and under lease. 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. Current income can produce a CAP rate of 6%+ after expenses., Directions:, Exclusions:
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Listing courtesy of: Benjamins Realty Inc.