251 Lester Street 206, Waterloo
For sale · $489,000
5 beds · 2 baths · Condo Apartment · 1200-1399 sq ft
About this home
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!
Listing details
- MLS® number: X13861922
- Listed on October 5, 2026
- 36 photos
Listing brokerage: ROYAL LEPAGE SIGNATURE REALTY
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MLS® listing data by PropTx under licence from TRREB, deemed reliable but not guaranteed accurate by PropTx. Operated by HighPoint Homes Realty, Brokerage.