271 Lester Street Unit 301, Waterloo, ON N2L 3W6
- $545,900
- 5
- BD
- 2
- BA
- 1,200
- SqFt
- List Price
- $545,900
- MLS#
- X13585568
- Status
- ACTIVE
- Type
- Condo
- SubType
- Condo Apartment
- Style
- Apartment
- Bedrooms
- 5
- Bathrooms
- 2
- Living Area
- 1200-1399
- Province
- ON
- Municipality
- Waterloo
- Area
- Waterloo
- Subdivision
- Lester / University
Property 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.
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Additional Information
- Taxes
- $3,891
- Maintenance Fee
- 696.71
- Heat Type
- Forced Air
- Heat Source
- Gas
- Air Conditioning
- Central Air
- Family Room
- Yes
- Kitchens
- 1
- Exterior
- Brick Veneer, Concrete
- Garage Spaces
- 1
- Garage Type
- Surface
- Parking Spaces
- 1
- Parking Type
- Covered
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Listing courtesy of RE/MAX HALLMARK REALTY LTD..