301 - 271 Lester Street Waterloo, Ontario N2L 3W6

$545,900

Maintenance, Heat, Water, Parking, Insurance

$696.71 Monthly

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:55460)

Property Details

MLS® Number	X13585568
Property Type	Single Family
Community Features	Pets Allowed With Restrictions
Features	Laundry- Coin Operated
Parking Space Total	1

Building

Bathroom Total	2
Bedrooms Above Ground	5
Bedrooms Total	5
Appliances	Dishwasher, Furniture, Stove, Window Coverings, Refrigerator
Basement Type	None
Cooling Type	Central Air Conditioning
Exterior Finish	Brick Veneer, Concrete
Heating Fuel	Natural Gas
Heating Type	Forced Air
Size Interior	1,200 - 1,399 Ft2
Type	Apartment

Parking

Garage
Covered

Land

Acreage

No

https://www.realtor.ca/real-estate/30057351/301-271-lester-street-waterloo