304 - 251 Lester Street

If you’re on the lookout for a fantastic investment opportunity, look no further than this condo for sale in Waterloo , located at 251 Lester Street, Waterloo. This purpose-built condo apartment boasts five spacious bedrooms and two bathrooms, making it an ideal choice for students or professionals alike. Nestled in the vibrant University District, this property is just a stone's throw away from both Wilfrid Laurier University and the University of Waterloo, ensuring a steady stream of potential tenants.

The building itself is a charming brick structure that adds character to the area. The unit at 251 Lester Street, Waterloo, features a well-designed open-concept living area, perfect for socialising or unwinding after a long day. Although it comes unfurnished, this allows new owners the freedom to personalise the space to their liking. With a total of eight rooms, including one kitchen, there’s ample room for everyone to enjoy their own space.

One of the standout features of this condo for sale in Waterloo is its potential for generating income. With the ability to bring in over £49,000 in annual gross rental income, it’s a lucrative investment. The current rental situation includes Unit 1 and Unit 2 both renting for £900 each until August 2027, Unit 4 at £850 until September 2026, and Unit 5 at £750 on a month-to-month basis. Unit 3 is currently vacant, offering a new owner the chance to increase their rental income right away. A detailed proforma is available upon request for those interested in the financials.

While the property does not come with a family room, central vacuum system, or a garage, it does offer central air conditioning to keep you comfortable during those warmer months. Although there is no pool or fireplace, the benefits of this condo for sale in Waterloo far outweigh these minor drawbacks. The building does not have additional land, but its prime location more than compensates for it.

Residents will appreciate the convenience of on-site property management, making it a truly hands-off investment. The condo fees cover essential services such as heat and water, which is a bonus for any landlord. Additionally, the building provides shared laundry facilities and elevator access, making it accessible for all residents.

Living at 251 Lester Street, Waterloo, means you’re right in the heart of the action. The proximity to transit, shops, and everyday amenities makes this location highly desirable. Whether you’re looking to rent to students or young professionals, this condo for sale in Waterloo is perfectly positioned to attract tenants who value convenience and accessibility.

In summary, this condo for sale in Waterloo at 251 Lester Street, Waterloo, is a turnkey investment opportunity that shouldn’t be missed. With its five bedrooms, two bathrooms, and excellent rental potential, it’s an attractive option for investors looking to make a smart addition to their portfolio. The combination of a great location, potential for income, and professional management makes this property a standout choice in the competitive Waterloo market. Don’t hesitate to reach out for more information or to request the detailed proforma—this opportunity won’t last long!

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. Within a short distance, you will find Winston Churchill Public School (1.4 km), an elementary school with an impressive rating of 4.9, offering grades from JK to 6. Just 0.8 km away, MacGregor Public School caters to grades 7 and 8, though it currently has a rating of 0. For secondary education, Waterloo Collegiate Institute is also 0.8 km from the property, with a rating of 6.3, serving grades 9 to 12. Keatsway Public School, located 1.8 km away, offers French language instruction for grades 1 to 6 and has a rating of 6.6. Additionally, Our Lady of Lourdes Catholic Elementary School (1.7 km) and St. David Catholic Secondary School (1.2 km) provide Catholic education options with ratings of 6.5 and 7.4, respectively. The Kitchener-Waterloo Collegiate and Vocational School, offering French instruction for grades 9 to 12, is 2.9 km away with a rating of 7. Overall, the area boasts a diverse range of schools, ensuring quality education for children of all ages.