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 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!
Full Property Details
Interior
Bedrooms
4
Total Bedrooms
4
Washrooms
2
Square Footage
1000-1199 sqft
Basement
None
Heating Source
Electric
Heating Fuel
Forced Air
Air Conditioning
Central Air
Family Room
No
Kitchens
1
Total Kitchens
1
Fireplace Features
No
Bedrooms
4
Total Bedrooms
4
Washrooms
2
Square Footage
1000-1199 sqft
Basement
None
Heating Source
Electric
Heating Fuel
Forced Air
Air Conditioning
Central Air
Family Room
No
Kitchens
1
Total Kitchens
1
Fireplace Features
No
Exterior
Driveway
None
Parking Spaces
0
Total Parking Spaces
0.00
Parking Description
None
Garage Spaces
0
Balcony
None
Driveway
None
Parking Spaces
0
Total Parking Spaces
0.00
Parking Description
None
Garage Spaces
0
Balcony
None
Building Description
Style
Apartment
Home Type
Condo
Subtype
Condo Apt
Year Built
16-30
Property Orientation
North East
Exterior Finish
Stucco (Plaster),Brick
Possession Date
No Data
Locker
None
Style
Apartment
Home Type
Condo
Subtype
Condo Apt
Year Built
16-30
Property Orientation
North East
Exterior Finish
Stucco (Plaster),Brick
Possession Date
No Data
Locker
None
Taxes & Fees
Taxes
$3,809 /yr
Tax Year
2025
Occupancy
Vacant
Maintenance Fee
$721.42/mo
Heating
Included
Water
Included
Building Insurance
Included
Taxes
$3,809 /yr
Tax Year
2025
Occupancy
Vacant
Maintenance Fee
$721.42/mo
Heating
Included
Water
Included
Building Insurance
Included
Other
Pets
No
Pets
No
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