Bathroom
4-Piece
Level: Main
401-253 Lester Street
Beechwood/University, Waterloo, ON N2L 3W6
Description
253 Lester St. #401 is a turnkey student rental investment property in the heart of Waterloo’s university district. This spacious 5-bedroom, 2-bathroom condo is purpose-built for student living and delivers strong, consistent rental income with minimal effort. Just steps from Wilfrid Laurier University and the University of Waterloo, this location attracts reliable tenants year after year. The thoughtfully designed layout features approximately 1,158 sq ft of living space, including five generously sized bedrooms, two full bathrooms, and a large open-concept common area highlighted by an L-shaped kitchen and a bright living/dining room — perfect for gatherings, study sessions, or relaxing after class (recently updated with new furniture). Condo fees include heat and water, keeping operating costs low. The building offers elevator access, a brand-new onsite laundry facility for added tenant convenience, central air conditioning, and proximity to public transit, shopping, restaurants, and all essential amenities. Street parking and additional building parking options are available. Whether you’re an experienced investor or looking for your first student rental property, this unit offers hands-off potential with current gross rental income of $42,000 per year and under lease. Don’t miss your chance to own a worry-free (excellent onsite management available), income-generating property in one of Waterloo’s most sought-after student locations. Current income can produce a CAP rate of 6%+ after expenses.
01 / Property recordListing detailsFacts, history, rooms and location
Key Facts
- MLS® #
- 40874752
- Board
- Cornerstone (ITSO) MLS®
- Days on market
- Tax
- $3,809
- Size
- 1158 sqft
Listing History
Listing activity for 401-253 Lester Street, Waterloo, ON
| Date Start | Date End | List Price | Price | Event | Listing ID |
|---|---|---|---|---|---|
| N/A | N/A | $488,900 | N/A | For Sale | 40874752 |
Property Details
Property
- Property Type
- Condo/Apt Unit
- Style
- Apartment
- Community
- Beechwood/University
- Municipality
- Waterloo
Inside
- Bedrooms
- 5
- Bathrooms
- 2
- Kitchens
- 1
Utilities
- Water
- Municipal
- Cooling
- Central Air
- Heating Type
- Forced Air
Building
- Size
- 1158 sqft
- Construction
- Stucco
Parking
- Driveway
- Street Parking Only, Visitor Parking
Land
- Sewer
- Sewer (Municipal)
Additional
- Year built
- 2009
- Roof
- Metal
- Extras
- Microwave, Refrigerator, Stove
- Condo maint.
- $721
Rooms (10)
Bedroom (2.29 × 4.34)
Level: Main
Bedroom (3.35 × 2.57)
Level: Main
Bathroom
4-Piece
Level: Main
Kitchen (3.48 × 3.94)
Level: Main
Bedroom (2.64 × 3.35)
Level: Main
Bedroom (3.48 × 2.57)
Level: Main
Bedroom (3.58 × 2.64)
Level: Main
Living Room (2.82 × 4.55)
Level: Main
Dining Room (2.87 × 4.55)
Level: Main
Location
Land and environment
Public records about this location. Not part of the MLS® listing and not provided by the listing brokerage.
13 records read 6 on record nearby 7 checked, none on recordRead 2026-10-29
Water and conservation
- No mapped wetland within 120 m
- No water-supply well recorded within 250 m10 test or monitoring holes also recorded.
- Groundwater recorded about 3.4 m below ground nearbyThe middle water level in the well records within 500 m (83 records). It changes with the season and from spot to spot.
Province of Ontario open data
Planning and building activity
- Outside the Greenbelt, Oak Ridges Moraine and Niagara Escarpment plan areas
Province of Ontario open data
Around the home
- Nearest rail line: 400 m
- A trail on the Ontario trail network within 1 km
Province of Ontario open data
Environmental records
- No licensed pit or quarry within 2 km
- No recorded oil, gas or salt well within 250 m
- No facility within 1 km reports pollutant releases to Environment CanadaThe nearest is E Craftsmen Corporation — E CRAFTSMEN CORPORATION - WATERLOO, 1.9 km away. Only facilities above the inventory’s reporting thresholds are listed.
- No federal contaminated site within 1 kmThe federal inventory covers federal land only; it says nothing about provincial or private sites.
Province of Ontario open data · Government of Canada open data
Power and internet
- Electricity is distributed here by Enova Power Corp.
- Wired internet 50/10 Mbps or faster is listed at a household 40 m awayFixed wireless 50/10 Mbps or faster. LTE mobile coverage listed. ISED’s National Broadband Data at the nearest household point (40 m from the listing); 50/10 Mbps is its top category and includes faster plans. Confirm with a provider for this address.
- Across the surrounding area: fibre to the home, cable, DSL internet listedFibre to the home: Bell, CIK Telecom, Rogers. Cable: Rogers. DSL: Bell. Fixed wireless: Bell, Netflash Internet Solutions, Rogers, Waterloo Wireless, Xplore. Mobile: Bell, Freedom Mobile, Rogers, Telus. Satellite: Xplore. ISED’s list for the surrounding ~25 km² area; check with a provider for this address.
Ontario Energy Board · Innovation, Science and Economic Development Canada
None of this is an inspection of the property. Confirm anything that matters to you with the municipality, the conservation authority or the record’s publisher. Contains information licensed under the Open Government Licence – Canada. Contains information licensed under the Open Government Licence – Ontario.
02 / Plan your numbersToolsMortgage and cash-flow planning
Mortgage Tools
Mortgage calculator
20%
Monthly Payment
$2,242
- Down payment$97,780
- Mortgage amount$391,120
- Total interest$281,480
- Total cost$770,380
Cash flow analysis
$2,242
Total monthly payment
$2,559
Break-even down payment
100%
Cash flow-$2,559
03 / Community profileNeighbourhood demographicsPeople, homes and household context
Expand Neighbourhood demographics to load Statistics Canada census charts.
$488,900
$488,900
CAD
Estimate unavailable
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