301 - 271 LESTER STREET, Waterloo, Ontario
$545,900
- 5 Beds
- 2 Baths
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. (id:23309)
- Listing ID: X13585568
- Property Type: Single Family
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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 301 - 271 LESTER STREET in Waterloo Ontario. It was last modified on July 20th, 2026. Contact Rosemarie Vella-Noor to schedule a viewing or to discover other Waterloo properties for sale.