101 - 253 Lester Street

Nestled in the vibrant heart of Waterloo's university district, this incredible condo for sale in Waterloo at 253 Lester Street, Waterloo, presents a fantastic opportunity for savvy investors. With five spacious bedrooms and two bathrooms, this purpose-built condo apartment is designed to cater to the needs of students and professionals alike. The property, constructed in 2009, is a prime example of modern living, offering a turnkey investment that promises to generate substantial rental income.

As you step into the condo, you’ll immediately appreciate the open-concept living area that provides ample space for relaxation and socialising. The layout is perfect for entertaining guests or unwinding after a long day. The kitchen, conveniently located on the main floor, comes equipped with essential appliances including a dishwasher, range hood, refrigerator, and stove, making meal preparation a breeze. Although the condo is unfurnished, this gives you the flexibility to style the space to your liking.

The two full bathrooms are a significant advantage, ensuring that residents have their privacy and convenience. With five bedrooms available, the potential for generating over £49,000 per year in gross rental income is highly attainable. The current lease for one of the rooms ends on 25th August 2028, while the other rooms are vacant, allowing for immediate occupancy or further rental opportunities. This makes it an ideal condo for sale in Waterloo for those looking to invest in a high-demand rental market.

Located at 253 Lester Street, Waterloo, this property is just a stone's throw away from both Wilfrid Laurier University and the University of Waterloo. The proximity to these educational institutions guarantees a steady stream of tenants, ensuring that your investment remains profitable. The area is bustling with activity, offering a plethora of shops, amenities, and public transport options, making it a desirable location for students and professionals alike.

While this condo for sale in Waterloo does not come with a garage or designated parking space, the convenience of nearby public transport means that getting around is hassle-free. Additionally, the building is equipped with shared laundry facilities and elevator access, making it accessible for all residents. The central air conditioning ensures comfort throughout the warmer months, while the forced air heating system powered by natural gas keeps the space cosy during the colder seasons.

It's important to note that there is no pool or family room in this condo, but the spacious living area more than compensates for it. The absence of a central vacuum system is also worth mentioning, but with the right cleaning tools, maintaining the property will be straightforward. The municipal water supply adds another layer of convenience, ensuring that residents have access to essential services without any hassle.

In summary, this condo for sale in Waterloo at 253 Lester Street, Waterloo, is a remarkable investment opportunity that combines location, functionality, and potential for high rental income. With its five bedrooms, two bathrooms, and a well-equipped kitchen, it caters perfectly to the needs of its residents. The vibrant community and proximity to educational institutions make it a sought-after property in the area. Whether you're looking to invest or find a place to call home, this condo is a fantastic choice that should not be overlooked. Don't miss out on the chance to own a piece of this thriving neighbourhood!

The 417 - Beechwood/University area in Waterloo is a vibrant and picturesque neighbourhood that seamlessly blends natural beauty with urban convenience. Nestled near the University of Waterloo, this community is characterised by its lush green spaces, charming tree-lined streets, and a diverse array of amenities. Residents enjoy easy access to parks, walking trails, and recreational facilities, making it an ideal spot for outdoor enthusiasts. The proximity to the university brings a youthful energy to the area, with a variety of cafes, shops, and cultural events that cater to both students and families alike. With excellent transport links and a welcoming atmosphere, 417 - Beechwood/University offers a delightful setting for those seeking a balanced lifestyle in a thriving city.

Schools in the Neighbourhood

This property is conveniently located near a variety of schools, making it an ideal choice for families. Within a short distance, you'll find Winston Churchill Public School, just 1.4 km away, offering elementary education from JK to grade 6 with an impressive rating of 4.9. For older elementary students, MacGregor Public School is only 0.7 km away, serving grades 7 and 8, although it currently has no rating. Nearby, Waterloo Collegiate Institute provides secondary education for grades 9 to 12, located just 0.8 km from the property, with a rating of 6.3. Additionally, Keatsway Public School offers a French language program for grades 1 to 6, located 1.8 km away, rated at 6.6. For Catholic education options, Our Lady of Lourdes Catholic Elementary School is 1.7 km away, rated 6.5, while St. David Catholic Secondary School is 1.2 km away, boasting a rating of 7.4. Lastly, Kitchener-Waterloo Collegiate and Vocational School, offering French instruction for grades 9 to 12, is situated 2.8 km from the property with a strong rating of 7. This diverse selection of schools ensures quality education options for children of all ages.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small, youthful population of 3,283 residents, with an average age of 24.4 years. The average household size is 2, indicating a tendency towards smaller living arrangements. The community faces economic challenges, as nearly half (47.9%) of the population is classified as low-income, and the average household income stands at $40,320. A significant portion of the population is single (87.69%), and only 8.33% of households include children, suggesting a demographic skew towards young adults. The housing market reflects a high demand for rental properties, with 90.85% of residents renting their homes, and condos making up 80.72% of the housing stock. Additionally, 54.09% of the population has attained a college or university education, highlighting a relatively educated community. However, 43.48% of residents are not in the labor force, which may contribute to the area's economic dynamics. The average property price in the area is $480,000, indicating a potentially competitive real estate market despite the economic challenges faced by many residents. Overall, this community is characterized by its youth, high rental rates, and a significant proportion of low-income households.