301 - 271 Lester Street,Waterloo, ON N2L3W6
Waterloo, ON N2L3W6
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. (id:13843)
Details
| MLS # | X14081834 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Strata Fees | $696 |
| Status | Active |
| Days On Site | 27 |
| Listing Provided By | RE/MAX HALLMARK REALTY LTD. | PAUL NAGPAL |
Features
| Bed(s) | 5 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 1,200 |
| Garage | 1 |
Interior
| Cooling | Central air conditioning |
|---|---|
| Heating | Forced air, Natural gas |
| Appliances | Refrigerator, Dishwasher, Stove, Furniture, Window Coverings |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Laundry- Coin operated |
|---|
Parking
| Parking Features | Garage, Covered |
|---|---|
| Parking Total | 1 |
Taxes
| Tax Annual Amount | 3891 |
|---|---|
| Tax Year | 2025 |
Area Information
| Province | ON |
|---|---|
| City | Waterloo |
| Postal Code | N2L3W6 |
| Listing VS Median (in N2L3W6) | |
Price: $545,900 low | high Med: $488,900 sqft: 1,200 low | high Med: 1,158 $ / sqft: $455 low | high Med: $422 On site: 27 low | high Med: 13 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | Waterloo |
| Postal Code | N2L3W6 |
| Listing VS Median (in N2L3W6) | |
Price: $545,900 low | high Med: $488,900 sqft: 1,200 low | high Med: 1,158 $ / sqft: $455 low | high Med: $422 On site: 27 low | high Med: 13 | |
