271 Lester Street 301,Waterloo, ON N2L 3W6
Waterloo, ON N2L 3W6
Description
Fully tenanted five-bedroom condo steps from both the University of Waterloo and Wilfrid Laurier University - a turnkey investment generating income from day one. All five rooms are currently leased at $4,550 per month in gross rent, so you step into immediate, predictable cash flow with no lease-up period. The economics are clean and the margins protected: heat, water and one owned parking space are included in the monthly condo fee, tenants pay their own hydro, and as a condo you avoid the roof, exterior, and grounds maintenance that erode returns on a student-rental house - keeping management focused on the tenants alone. The roughly 1,355 square foot layout offers five well-proportioned bedrooms, an upgraded kitchen, and two full bathrooms, with gas forced-air heat, central air conditioning, elevator, and on-site laundry. It comes furnished, so the unit stays rent-ready between terms. The owned parking space is a rarity here, where most units come with none, and adds a second income lever or a standout perk that keeps rooms easy to fill. Location drives the demand: ION light rail is about a ten minute walk at both the Laurier-Waterloo Park and University of Waterloo stations, University Shops Plaza puts groceries and restaurants at the doorstep, and both campuses are close by, keeping occupancy tight each September. A practical, well-located asset in one of Ontario's tightest student housing markets, with rooms rolling through 2026 and 2027 and flexible possession to suit your timeline.
Details
| MLS # | X14081834 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| HOA Dues | $696 |
| Sub-Type | Resale |
| Status | New |
| Year | 0 |
| Days On Site | 15 |
| Listing Provided By | RE/MAX HALLMARK REALTY LTD. | X14081834 259011 |
Features
| Bed(s) | 5 |
|---|---|
| Bath(s) | 2 |
| Garage | 1 |
Interior
| Interior Features | Other |
|---|---|
| Cooling | Central Air |
| Heat Source | Gas |
| Fireplace Yes / No | No |
| Laundry Features | Common Area, Coin Operated |
Exterior
| Construction Materials | Brick Veneer, Concrete |
|---|
Parking
| Garage Yes / No | Yes |
|---|---|
| Parking Features | Covered |
Taxes
| Tax Annual Amount | 3891 |
|---|---|
| Tax Year | 2026 |
Area Information
| Province | ON |
|---|---|
| County | Waterloo |
| City | Waterloo |
| Postal Code | N2L 3W6 |
| Listing VS Median (in N2L 3W6) | |
Price: $545,900 low | high Med: $0 On site: 15 low | high Med: | |
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Learn More About This Property
| Province | ON |
|---|---|
| County | Waterloo |
| City | Waterloo |
| Postal Code | N2L 3W6 |
| Listing VS Median (in N2L 3W6) | |
Price: $545,900 low | high Med: $0 On site: 15 low | high Med: | |
