251 Lester Street 206
Waterloo, N2L 3W6
FOR SALE
$489,000
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5
BEDROOMS 2
BATHROOMS 1
KITCHENS 8
ROOMS X13861922
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Property Description
Rare turnkey student asset generating $36,120/year gross in-place revenue ($3,010/month). Skip the leasing headache-Suite 206 at 251 Lester St is a purpose-built 5-bedroom, 2-bathroom residence featuring fully executed Ontario Standard Leases on long-term fixed horizons, backed by designated parental guarantors and managed turnkey by Property Management. Why gamble on unverified tenants when you can acquire secured cash flow from Day 1? Situated just steps from both the University of Waterloo and Wilfrid Laurier University, this unbeatable AAA location virtually eliminates vacancy risk while ensuring steady demand year after year. The suite comes complete with furnished living areas, an expansive open-concept common layout, two full four-piece bathrooms, and easy elevator access. Ownership is streamlined and predictable, as condo maintenance fees conveniently cover both heat and water. Professional property management infrastructure is already active and running smoothly behind the scenes, featuring automated tenant rent collection. Commuting is effortless with rapid access to the ION LRT transit line, local tech hubs, university plazas, grocery stores, and vibrant dining destinations. Whether you are expanding an established multi-family portfolio or are a parent-investor searching for a low-maintenance asset with strong fundamentals, this property delivers immediate predictability. Book your private viewing today!
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Nearby Intersections
Property Features
None, Underground, Coin Operated, In Building
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Property Details
Address
251 Lester Street 206
City
Postal Code
N2L 3W6
Property Type
Condo Apartment, Condo Apartment
Taxes
$4,059 (2025
Basement
None
Heat Type
Forced Air
Heat Source
Gas
Parking 1
None
Garage Type
None
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Listing contracted with Royal Lepage Signature Realty
FULLY VACANT!! Calling all investors, parents of university students, and savvy buyers looking for an exceptional income-generating opportunity! This exceptional 4-bedroom apartment was previously rented for $3,300 per month, offering a strong rental history and excellent income potential for investors. This one-of-a-kind property offers outstanding rental potential with a spacious multi-level layout featuring 4 bedrooms, a bathroom on every level, and a shared kitchen configuration ideal for student housing or multi-tenant occupancy. The spacious floor plan offers a seamless flow throughout the apartment, providing the perfect balance of comfort and every day living. Freshly painted throughout and enhanced with new waterproof vinyl flooring on the upper level, this move-in-ready property blends modern updates with timeless character. Originally a 1900s industrial building thoughtfully converted to residential use in 2002, this unique home showcases soaring ceilings, exposed beams, exposed brick, and stone accents, creating a stunning urban loft feel that stands out from the ordinary. Residents also enjoy access to secured bike storage, a media lounge/recreation area to relax and unwind, and convenient onsite laundry facilities. Located in one of Waterloo's most sought-after neighbourhoods, take advantage of the proximity to the University of Waterloo, Wilfred Laurier University, Conestoga College Waterloo Campus, the ION LRT, public transit, grocery stores, restaurants, cafés, and everyday amenities. Enjoy miles of scenic walking trails just moments from your doorstep, offering outdoor enthusiasts the perfect opportunity to explore the natural beauty of the surrounding area year-round. With a proven rental history, consistently high occupancy, and the flexibility of being fully vacant, this is a rare opportunity for investors to set their own rents or for end users looking to capitalize on an incredible location. Book your private showing today!
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