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$ 585,000
Est. payment /mo
Active
253 Lester ST #503 Waterloo, ON N2L 3W6
5 Beds
2 Baths
UPDATED:
Key Details
Property Type Condo
Sub Type Condo Apartment
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1200-1399
MLS Listing ID X12037147
Style Apartment
Bedrooms 5
HOA Fees $790
Building Age 11-15
Annual Tax Amount $3,499
Tax Year 2024
Property Sub-Type Condo Apartment
Property Description
Generating over $53,000/year in Gross Revenue, this powerhouse of a student rental is a guaranteed money maker and one of the best passive investment models in the Waterloo Region. Walking distance to both Laurier and UW, theres no shortage of students eager to move here, and many stay for the duration of their education. With 5 bedrooms, 2 full bathrooms, and a massive open-concept living area, the attention to detail and practicality of construction in this purpose-built property make ownership a breeze. Even the furniture is included for a completely seamless and hassle-free tenant turnover. And the condo fees include Heat and Water for your peace of mind. Fully tenanted with the loveliest undergrads, there are 4 leases in place through to August 2026, and one lease ending in Aug 2025. Opt-in to the professional Property Management for a completely hands-off investment approach that delivers positive cashflow every single month.With ample parking located behind the property, a shared laundry area, an elevator for accessibility, close to eateries and amenities and transit, 253 Lester Street sure is a low risk income property to slide into your portfolio. Let's get you in for a closer look soon.
Location
Province ON
County Waterloo
Area Waterloo
Rooms
Family Room Yes
Basement None
Kitchen 1
Interior
Interior Features None
Cooling Central Air
Fireplace No
Heat Source Gas
Exterior
Exterior Feature Controlled Entry
Parking Features Surface
Roof Type Asphalt Shingle
Exposure East
Balcony None
Building
Story 6
Foundation Poured Concrete
Locker None
Others
Pets Allowed Restricted
Listed by Trilliumwest Real Estate Brokerage Ltd