Incredible turnkey investment in the heart of Waterloo's university district! This purpose-built 5-bedroom, 2-bathroom condo at 251 Lester St has the potential to generate over $49,000/year in gross rental income with positive monthly cash flow. Just steps to Wilfrid Laurier University and the University of Waterloo, this high-demand location ensures consistent tenancy. Features include a spacious open-concept living area, two full baths, included furniture, and professional property management options for a completely hands-off experience. Condo fees include heat and water, and the building offers parking, shared laundry facilities, elevator access, and proximity to transit, shops, and various amenities.
Property Type:
Residential Condo & Other
Property Sub Type:
Condo Apartment
Home Style:
Apartment
Total Approx Floor Area:
1200-1399
Exposure:
East
Bedrooms:
5
Bathrooms:
2.0
Kitchens:
1
Bedrooms Above Grade:
5
Kitchens Above Grade:
1
Rooms Above Grade:
8
Heating type:
Forced Air
Heating Fuel:
Gas
Storey:
2
Balcony:
None
Basement:
None
Fireplace/Stove:
No
Garage:
None
Garage Spaces:
0.0
Parking Features:
None
Parking Type:
None
Parking Spaces:
0
Total Parking Spaces:
0.0
Locker:
Ensuite+Common
Family Room:
No
Possession Details:
Flexible
HST Applicable To Sale Price:
Included In
Maintenance Fee:
$781.37
Maintenance fees include:
Heat Included, Common Elements Included, Building Insurance Included, Water Included, CAC Included
Data was last updated May 14, 2026 at 04:15 AM (UTC)
Area Statistics
Listings on market:
189
Avg list price:
$415,000
Min list price:
$209,000
Max list price:
$1,999,990
Avg days on market:
48
Min days on market:
1
Max days on market:
546
These statistics are generated based on the current listing's property type
and located in
Waterloo. Average values are
derived using median calculations. This data is not produced by
the MLS® system.
This website may only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered via the website.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of the PropTx MLS®. The data is deemed reliable but is not guaranteed to be accurate.