For Sale: 401-253 Lester Street, Waterloo, ON - REW
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$514,900
5 bd • 2 ba • 1158 sf • Apt/Condo
401-253 Lester Street
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$514,900
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401 - 253 Lester StreetWaterloo, ON, N2L 3W6

  • 5 Bed
  • 2 Bath
  • 1158 Sqft
  • Apt/Condo

About this home

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 proven gross rental income potentially exceeding $45,000 per year (based on current market rents in the building). Many similar units in the complex are fully tenanted with long-term leases, delivering stable cash flow in this ever-growing university hub. 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. Schedule your viewing today!
Listed by: JOHN BENJAMINS, BENJAMINS REALTY INC.

Home facts and features

Price details
List Price
$514,900
Get Pre-Approved
Gross Taxes for 2026
$3,809
Strata Maintenance Fees
$721 Monthly
Home facts
Bedrooms
5
Full Bathrooms
2
Property Type
Apt/Condo
Year Built
Built in 2009 (17 yrs old)
Style
1 Storey/Apt
Heating Type
Forced Air
Cooling
Central Air
Features
In Building, Separate Heating Controls
Amenities
Elevator(s)
Appliances
Microwave, Refrigerator, Stove
Agent details
Primary Agent
Primary Broker
BENJAMINS REALTY INC.
Listing details
Days on REW
47 Days
MLS® Number
40822088
Source
Information Technology Systems Ontario
Board
Cornerstone Association of REALTORS®
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25 Years
Interest Rate
3.99%

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Property Insights

Waterloo Collegiate Institute
  • Public
  • 9 - 12
MacGregor Public School
  • Public
  • 6 - 8
St David Catholic Secondary School
  • Catholic
  • 9 - 12
Winston Churchill Public School
  • Public
  • JK - 6
Our Lady of Lourdes Catholic Elementary School
  • Catholic
  • JK - 8
Keatsway Public School
  • Public
  • JK - 6
Cedarbrae Public School
  • Public
  • JK - 6
Centennial (Waterloo) Public School
  • Public
  • 7 - 8
Empire Public School
  • Public
  • JK - 6
Elizabeth Ziegler Public School
  • Public
  • JK - 6
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Salesperson
JOHN BENJAMINS
Phone:
(519) 575-9092
Cell:
519-574-1224
Office:
519-575-9092
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