253 LESTER Street Unit# 401, Waterloo, Ontario
$514,900
- 5 Beds
- 2 Baths
- 1,158 Square Feet
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:23309)
- Listing ID: 40822088
- Property Type: Single Family
- Year Built: 2009
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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 253 LESTER Street Unit# 401 in Waterloo Ontario. It was last modified on April 20th, 2026. Contact Paul Busnello to schedule a viewing or to discover other Waterloo properties for sale.