503 - 253 Lester Street

Welcome to your next investment opportunity: a fantastic condo for sale in Waterloo , located at 253 Lester Street, Waterloo. This property is a true gem in the heart of the city, generating an impressive gross revenue of over £53,000 a year. It's a powerhouse of a student rental, making it one of the best passive investment models in the Waterloo Region. With its prime location, just a short stroll away from both Laurier University and the University of Waterloo, you’ll find no shortage of eager students wanting to call this place home. Many of them stay for the duration of their education, ensuring a steady stream of income for the savvy investor.

This condo for sale in Waterloo boasts five spacious bedrooms, perfect for accommodating students or young professionals. The layout is designed with practicality in mind, featuring two full bathrooms that cater to the needs of a busy household. The main kitchen is well-equipped and flows seamlessly into a massive open-concept living area, which is ideal for socialising and relaxing after a long day of classes. The attention to detail in this purpose-built property truly makes ownership a breeze, ensuring that both tenants and landlords are satisfied.

While the condo is currently unfurnished, the previous tenants have enjoyed the convenience of included furniture, which made for a completely seamless and hassle-free turnover. This means that you can easily furnish the space or opt to leave it as is, depending on your investment strategy. The condo fees are quite reasonable, covering essential services like heat and water, which adds an extra layer of peace of mind for both you and your tenants.

At 253 Lester Street, Waterloo, you’ll find that the property is fully tenanted with the loveliest undergraduates, making it a low-risk income property to add to your portfolio. There are four leases in place that extend through to August 2026, along with one lease ending in August 2025. This stability ensures that you’ll have a consistent cash flow, making this condo for sale in Waterloo a smart choice for any investor.

One of the standout features of this property is the ample parking available behind the building, which is a rare find in such a central location. Additionally, there’s a shared laundry area and an elevator for accessibility, making it convenient for all residents. The area is bustling with eateries, amenities, and excellent public transport links, meaning that everything your tenants need is just a stone's throw away.

If you’re looking for a hands-off investment approach, you can opt-in to the professional property management services available, allowing you to enjoy positive cash flow every single month without the hassle of day-to-day management. This makes the condo for sale in Waterloo not just a property, but a complete investment solution.

As you consider adding this property to your portfolio, remember that it’s not just about the numbers; it’s about the community and the lifestyle that comes with living at 253 Lester Street, Waterloo. The vibrant student life and the proximity to educational institutions make this location highly desirable, ensuring that your investment will continue to thrive for years to come.

In summary, this condo for sale in Waterloo at 253 Lester Street, Waterloo, is an exceptional opportunity for anyone looking to invest in a reliable and lucrative rental property. With its prime location, spacious living arrangements, and solid revenue generation, it’s a chance not to be missed. Let’s arrange a viewing soon so you can see for yourself just how perfect this property is for your investment goals!

Schools in the Neighbourhood

This property is ideally situated near a variety of educational institutions, catering to families with children of all ages. Within a short distance, you will find Winston Churchill Public School (1.3 km), an English-speaking elementary school rated 4.7, and MacGregor Public School (0.8 km), which serves grades 7 to 8 but currently has no rating. For secondary education, Waterloo Collegiate Institute (0.7 km) offers grades 9 to 12 with a respectable rating of 6.9. Families seeking French-language education can consider Keatsway Public School (1.8 km), rated 6.6, and the Kitchener-Waterloo Collegiate and Vocational School (2.9 km), rated 6.7. Additionally, there are Catholic options such as Our Lady of Lourdes Catholic Elementary School (1.7 km) with a rating of 6.3 and St. David Catholic Secondary School (1.2 km) rated 7. The proximity to these schools not only enhances the community's appeal but also provides excellent educational opportunities for children, making this property a great choice for families.