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Key Facts
Key facts for 271 Lester Street #301
Property Type
Condo, Apartment
Parking
Covered 1 garage, 1 parking
MLS #
X14081834
Size
1200-1399 sqft
Basement
None
Listed on
2026-10-14
Lot size
-
Tax
$3,891 /yr
Days on Market
9
Approximate Age
-
Maintenance Fee
$696.71/mo
Heating, Parking, Wa...
Description
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.
Full Property Details
Interior
Bedrooms
5
Total Bedrooms
5
Washrooms
2
Square Footage
1200-1399 sqft
Basement
None
Heating Source
Gas
Heating Fuel
Forced Air
Air Conditioning
Central Air
Family Room
Yes
Kitchens
1
Total Kitchens
1
Fireplace Features
No
Bedrooms
5
Total Bedrooms
5
Washrooms
2
Square Footage
1200-1399 sqft
Basement
None
Heating Source
Gas
Heating Fuel
Forced Air
Air Conditioning
Central Air
Family Room
Yes
Kitchens
1
Total Kitchens
1
Fireplace Features
No
Exterior
Driveway
Covered
Parking Spaces
1
Total Parking Spaces
1.00
Parking Description
Covered
Garage Spaces
1
Balcony
None
Driveway
Covered
Parking Spaces
1
Total Parking Spaces
1.00
Parking Description
Covered
Garage Spaces
1
Balcony
None
Building Description
Style
Apartment
Home Type
Condo
Subtype
Condo Apartment
Property Orientation
East
Exterior Finish
Brick Veneer,Concrete
Possession Date
12/1/2026
Locker
None
Style
Apartment
Home Type
Condo
Subtype
Condo Apartment
Property Orientation
East
Exterior Finish
Brick Veneer,Concrete
Possession Date
12/1/2026
Locker
None
Taxes & Fees
Taxes
$3,891 /yr
Tax Year
2026
Occupancy
Tenant
Maintenance Fee
$696.71/mo
Heating
Included
Parking
Included
Water
Included
Building Insurance
Included
Taxes
$3,891 /yr
Tax Year
2026
Occupancy
Tenant
Maintenance Fee
$696.71/mo
Heating
Included
Parking
Included
Water
Included
Building Insurance
Included
Other
Pets
Yes-with Restrictions
Pets
Yes-with Restrictions
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