271 Lester Street 301, Waterloo, ON N2L 3W6

About this property

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.

Property facts & features

Property type

Condo Apartment

MLS® number

X14081834

Source status

New

Bedrooms

5

Bathrooms

2

Reported interior area

Not provided

Neighbourhood

Not provided

Postal code

N2L 3W6

Parking spaces

1

Garage

Surface

Annual property tax

3891

Maintenance fee (source period)

696.71

Basement

None

Laundry

Common Area, Coin Operated

Interior features

Other

Exterior features

Not provided

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Floor plans & room measurements

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Property value & listing history

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Location & neighbourhood

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