$488,900
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401 253 Lester Street, Waterloo on N2L 3W6, Waterloo, ON N2L 3W6

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5 Beds
2 Baths
1,158 Sq Ft

253 Lester St. #401 is a turnkey student rental investment property in the heart of Waterloos 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 youre an experienced investor or looking for your first student rental property, this unit offers hands-off potential with current gross rental income of $42, 000 per year and under lease. Dont miss your chance to own a worry-free (excellent onsite management available), income-generating property in one of Waterloos most sought-after student locations. Current income can produce a CAP rate of 6%+ after expenses.

Listing By: John Benjamins - Benjamins Realty Inc. cnitso Realty.com
  • MLS® 40874752
  • Date Listed10/28/2026
  • Days on Realty 8 Days
  • Bedrooms 5
  • Bathrooms 2 Full baths
  • Lot Size -
  • County Waterloo
  • Year Built 2009
  • Square Feet 1,158 sq. ft
  • Price Per Sq. Ft $422.19

Interior Features

  • Appliances Microwave, Refrigerator, Stove
  • Cooling Central Air
  • Heating Forced Air

Exterior / Lot Features

  • Roof Metal
  • Lot Size Acres -
  • Lot Size SQFT -
  • Lot Features Urban, Highway Access, Library, Place of Worship, Schools, Shopping Nearby

Sales & Tax History

Source: Public Records

Local Neighborhood Highlights for N2L 3W6

Discover key demographics, population statistics, and environmental insights for the Waterloo, ON area.

Walkability in ON / N2L 3W6

Source: Walk Score

50/100

Somewhat Walkable

Walk Score ®

41/100

Some Transit

Transit Score ®

62/100

Bikable

Bike Score ®

Walkability averages in the surrounding area

The average walkability score in the surrounding area is Walk Score: 50/100, Transit Score: 41/100, Bike Score: 62/100.

Points of Interest near 401 253 Lester Street, Waterloo ON N2L 3W6, Waterloo, ON N2L 3W6

Frequently Asked Questions for 401 253 Lester Street, Waterloo ON N2L 3W6

Source: Realty.com

401 253 Lester Street, Waterloo ON N2L 3W6, Waterloo, ON N2L 3W6 in Waterloo, ON N2L 3W6 is a attached listed at $488,900. Highlights include 5 bedrooms, 2 bathrooms, 1,158 sq. ft., built in 2009, $422 per sq. ft., HOA fee $721 Monthly. Realty.ca has 27 photos, sales history, school insights, and mortgage tools for ...

Realty.com has 27 photos of 401 253 Lester Street, Waterloo ON N2L 3W6.

Our records indicate that 401 253 Lester Street, Waterloo ON N2L 3W6 was built in 2009.

The full address for this home is 401 253 Lester Street, Waterloo ON N2L 3W6, Waterloo, ON N2L 3W6.

401 253 Lester Street, Waterloo ON N2L 3W6 has been listed on Realty.com since Wed October 28, 2026

The average walkability score in the surrounding area is Walk Score: 50/100, Transit Score: 41/100, Bike Score: 62/100.

Listing provided courtesy of: Benjamins Realty Inc. - itso (tel: 519-575-9092)
Listing agent: John Benjamins (tel: 519-574-1224)

This content last refreshed on 2026-11-05 11:24:25. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.