301 - 261 Lester Street

Welcome to an exceptional opportunity to own a remarkable condo for sale in Waterloo , located at 261 Lester Street, Waterloo. This splendid property is nestled in the vibrant heart of Waterloo's university district, making it an ideal investment for those looking to tap into the lucrative rental market. With its prime location just a stone's throw away from both Wilfrid Laurier University and the University of Waterloo, this condo is perfectly positioned to attract consistent tenancy and generate impressive rental income.

This purpose-built condo apartment boasts five spacious bedrooms and two well-appointed bathrooms, making it a highly desirable option for students or young professionals seeking comfortable living arrangements. The layout is thoughtfully designed, featuring a spacious open-concept living area that promotes a warm and inviting atmosphere. As you step into the condo, you’ll immediately appreciate the potential it holds for generating close to £50,000 per year in gross rental income, ensuring positive monthly cash flow.

The address 261 Lester Street, Waterloo, is not just a place to live; it’s a lifestyle choice. The property is unfurnished, allowing you the freedom to personalise the space to your liking. The absence of a central vacuum system and fireplace means that maintenance is straightforward, allowing you to focus on enjoying your new home or managing it as a rental. Additionally, the condo is equipped with central air conditioning, ensuring comfort throughout the year, regardless of the season.

While this property does not feature a pool or a family room, it compensates with its incredible location and the amenities that come with it. The building is well-maintained and offers essential conveniences such as shared laundry facilities, elevator access, and proximity to public transit, shops, and local amenities. Furthermore, the seller is generously offering one year of professional property management services or the cash equivalent as part of the sale, making this condo for sale in Waterloo a truly hands-off investment opportunity.

The condo fees conveniently cover heat and water, providing peace of mind regarding utility expenses. With no additional land or garage space included, the focus remains on the condo itself, which is designed to cater to the needs of its residents. The age of the building, being between 16 to 30 years, adds a layer of character and stability to the investment, ensuring that it has stood the test of time in a bustling community.

In summary, if you’re in the market for a condo for sale in Waterloo, look no further than 261 Lester Street, Waterloo. This property not only offers the potential for significant rental income but also places you in a thriving area that is constantly in demand. With its ample bedrooms, two bathrooms, and a prime location, this condo is an investment that promises both comfort and financial returns.

Don’t miss out on this incredible opportunity to own a piece of Waterloo’s vibrant community. Whether you’re looking to invest or find a home for yourself, this condo for sale in Waterloo at 261 Lester Street, Waterloo, is a fantastic choice. Reach out today to learn more about this exceptional property and take the first step towards securing your future in this thriving area.

Schools in the Neighbourhood

This property is conveniently located near a variety of educational institutions, making it an ideal choice for families. Within a short distance, you will find several elementary and secondary schools catering to diverse educational needs. Notable nearby schools include Winston Churchill Public School, just 1.3 km away, which offers grades JK to 6 and boasts an impressive rating of 4.9. MacGregor Public School, located only 0.9 km away, serves grades 7 to 8 but has a lower rating. For secondary education, Waterloo Collegiate Institute is a mere 0.7 km from the property and has a solid rating of 6.3. Families interested in Catholic education will appreciate Our Lady of Lourdes Catholic Elementary School and St. David Catholic Secondary School, both within 1.2 to 1.8 km, with ratings of 6.5 and 7.4, respectively. Additionally, there are options for French-language education, such as Keatsway Public School and Sir Edgar Bauer Catholic Elementary School. Overall, the area offers a rich selection of schools, ensuring quality education for children of all ages and preferences, making this property an excellent choice for families.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 3,283 residents, characterized by a youthful demographic with an average age of 24.4 years. The average household consists of two individuals, and a significant portion of the population, approximately 87.69%, is single. The average household income stands at $40,320, with nearly half (47.9%) of the residents classified as low-income. Housing trends indicate a high demand for rental properties, with 90.85% of households renting, and 80.72% of the housing stock consisting of condominiums. Families with children are relatively rare, making up only 8.33% of households. The area also has a notable immigrant population, accounting for 17.75% of residents. Educational attainment is high, with 54.09% of the population holding a college or university degree. However, a significant portion of the population, 43.48%, is not participating in the labor force. The average property price in the area is $480,000, reflecting the demand for housing amidst a predominantly young and diverse community.