253 Lester Street Unit# 401, Waterloo, Ontario

About 253 Lester Street Unit# 401

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 current gross rental income of $42,000 per year and under lease. 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. Current income can produce a CAP rate of 6%+ after expenses. (id:6289)

More Info on this 417 - Beechwood/University Apartment MLS® listing

253 Lester Street Unit# 401 is an apartment listing for sale in Waterloo. The MLS® number is 40874752. It was built in 2009, features 5 bedrooms, 2 bathrooms and covers 1,158 square feet. It's currently listed for $488,900. For more details on MLS® 40874752, including price history, disclosures, or to schedule a private showing, fill out the form on this page. This apartment listing in 417 - Beechwood/University is available now!

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Have a similar home to 253 Lester Street Unit# 401? If you’re thinking about selling your 417 - Beechwood/University apartment property, then we should chat. Fill in the form on this page, or click request info, and we’ll get right back to you, and we can chat about selling your Waterloo property.

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