206 - 251 LESTER STREET, Waterloo, Ontario

$489,000

5 Beds
2 Baths
1,300 Square Feet

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! (id:23309)

Listing ID: X13861922
Property Type: Single Family

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Rooms

Level	Type	Dimensions
Main Level	Living Room	2.9 m x 2.82 m
Main Level	Dining Room	3.43 m x 8.43 m
Main Level	Kitchen	3.43 m x 8.43 m
Main Level	Foyer	3.43 m x 8.43 m
Main Level	Primary Bedroom	4.6 m x 2.36 m
Main Level	Bedroom 2	3.73 m x 2.67 m
Main Level	Bedroom 3	2.64 m x 3.96 m
Main Level	Bedroom 4	3.56 m x 2.64 m
Main Level	Bedroom 5	4.11 m x 2.34 m

Details

Community Features: Pets Allowed With Restrictions
Features: Laundry- Coin operated
Maintenance Fee: 790.49
Maintenance Fee Type: Heat, Water, Common Area Maintenance, Insurance
Maintenance Fee Payment Unit: Monthly
Management Company: WILSON BLANCHARD
Ownership: Condominium/Strata
Transaction: For sale

Building

Appliances: Dishwasher, Hood Fan, Stove, Refrigerator
BasementType: None
Bedrooms Main Level: 5
Cooling: Central air conditioning
Exterior Finish: Brick
Fireplace Present: False
Bathrooms (Total): 2
Heating: Forced air
Heating Fuel: Natural gas
Size Interior: 1200 - 1399 sqft
Type: Apartment

Land

This property for sale is located at 206 - 251 LESTER STREET in Waterloo. It was last modified on October 6th 2026. Let us connect you with one of our real estate agents to schedule a viewing or to discover other Waterloo properties for sale.

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