Salehian.com 647-325-5000

251 Lester Street 203

Waterloo, N2L 3W6 · More in this building

$509,000

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  • 5 bedrooms
  • 2 bathrooms
  • 0 parking
  • 1200-1399 sq ft

Listed 162 days ago · MLS® X13115662

About this home

Incredible turnkey investment in the heart of Waterloo's university district! This purpose-built 5-bedroom, 2-bathroom condo at 251 Lester St has the potential to generate over $49,000/year in gross rental income with positive monthly cash flow. Just steps to Wilfrid Laurier University and the University of Waterloo, this high-demand location ensures consistent tenancy. Features include a spacious open-concept living area, two full baths, included furniture, and professional property management options for a completely hands-off experience. Condo fees include heat and water, and the building offers parking, shared laundry facilities, elevator access, and proximity to transit, shops, and various amenities.

Details

Type
Condo Apartment
Style
Apartment
Size
1200-1399 sq ft
Basement
None
Garage
None
Kitchens
1
Property tax
$4,356 (2025)
Maintenance fee
$781/month
Municipality
Waterloo
Price per sq ft
$392 (25% below condo apartments in Waterloo, $521)
Fee per sq ft
$0.60/month

Interior

Bedrooms
5 above ground
Bathrooms
1 × 4-piece (flat), 1 × 3-piece (flat)
Rooms
8 above ground
Family room or den
No
Fireplace
No
Laundry
In Building
Features
Ventilation System

Heating, cooling and services

Heating
Forced Air, Gas
Air conditioning
Central Air

Building and exterior

Style
Apartment
Exterior
Brick

Condo

Monthly fee
$781
Fee includes
Heat Included, Common Elements Included, Building Insurance Included, Water Included, CAC Included
Locker
Ensuite+Common
Exposure
East
Pets
Yes-with Restrictions
Property manager
WILSON BLANCHARD

More

Possession
Flexible
Cross street
University Ave W / Lester St

Rooms

RoomLevelSizeFeatures
Living RoomMain2.89 × 2.81 m (9'6" × 9'3")
Dining RoomMain
KitchenMain

History of this address

1 earlier listing at this address, with sold and leased prices. Create a free account or sign in to see them.

Location

Location is approximate. See nearby homes on the map

Recent sales nearby

See what similar homes within 1 km sold for in the last year. Create a free account or sign in to see them.

The neighbourhood

Getting around Very walkable

  • 🚇 Laurier - Waterloo Park LRT8 min walk
  • 🚇 University of Waterloo LRT9 min walk

Within a 10-minute walk: 3 grocery stores, 111 cafés and restaurants, 8 parks, 3 pharmacies. Nearest grocery: Waterloo Central Supermarket (50 m). Nearest park: Sunview park (250 m).

Schools nearby

Elementary

  • Winston Churchill Public School
    EQAO: Gr 6 reading 88%, math 56%    1.4 km
  • Our Lady of Lourdes Catholic Elementary School Catholic
    EQAO: Gr 6 reading 83%, math 45%    1.7 km
  • Keatsway Public School
    EQAO: Gr 6 reading 84%, math 50%    1.7 km
  • Empire Public School
    EQAO: Gr 6 reading 87%, math 52%    2.0 km

Secondary

  • Waterloo Collegiate Institute
    EQAO: Gr 9 math 57%, literacy test 85%    12 min walk
  • MacGregor Public School12 min walk
  • St. David Catholic Secondary School Catholic
    EQAO: Gr 9 math 67%, literacy test 97%    1.2 km

EQAO: share of students meeting the provincial standard (2024–25). Ontario average: Gr 6 reading 86%, math 51%; Gr 9 math 55%; literacy test 83%.

Closest schools, not school zones. Check which school serves this address with the school board before relying on it.

Who lives here postal area N2L

Owners / renters
37% / 63%
Median household income
$69,500
Average age
37
Children under 15
11%
Homes
29% detached, 40% high-rise
Commute by transit
12%
Population
37,953

Languages spoken most at home besides English: Mandarin 5.5%, Arabic 1.4%, Hindi 0.9%, Punjabi (Panjabi) 0.9%.

Safety

Crime Severity Index for Waterloo Region (Kitchener) police: 67 vs 57 for Ontario (2025).

Police-reported figures for the whole police service area, not this street. Rates use the area’s resident population.

Distances are approximate. Places © OpenStreetMap contributors. Neighbourhood figures: Statistics Canada, 2021 Census. School results: EQAO via Ontario Data Catalogue (Open Government Licence – Ontario). Crime Severity Index: Statistics Canada.

Living here

Commute

To downtown Kitchener: 4 km. Transit times · Driving times

Noise Nothing major nearby

No highway within 500 m, rail line within 300 m, or airport flight path nearby.

Distances from the map, not noise measurements. Visit at rush hour to judge for yourself.

Internet High-speed

50/10 Mbps or faster available here by cable, fibre or DSL (the federal high-speed target).

From the federal broadband map. Check exact speeds and providers for the address.

Roads, rail, airports and planned stations © OpenStreetMap contributors. Internet: Innovation, Science and Economic Development Canada, National Broadband Data.

Listed by ROYAL LEPAGE SIGNATURE REALTY.

Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.

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