Salehian.com 647-325-5000

251 Lester Street 206

Waterloo, N2L 3W6 · More in this building

$489,000

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

Listed 14 days ago · MLS® X13861922

About this home

Rare turnkey student asset generating $36,120/year gross in-place revenue ($3,010/month). Skip the leasing headache-Suite 206 at 251 Lester St is a purpose-built 5-bedroom, 2-bathroom residence featuring fully executed Ontario Standard Leases on long-term fixed horizons, backed by designated parental guarantors and managed turnkey by Property Management. Why gamble on unverified tenants when you can acquire secured cash flow from Day 1? Situated just steps from both the University of Waterloo and Wilfrid Laurier University, this unbeatable AAA location virtually eliminates vacancy risk while ensuring steady demand year after year. The suite comes complete with furnished living areas, an expansive open-concept common layout, two full four-piece bathrooms, and easy elevator access. Ownership is streamlined and predictable, as condo maintenance fees conveniently cover both heat and water. Professional property management infrastructure is already active and running smoothly behind the scenes, featuring automated tenant rent collection. Commuting is effortless with rapid access to the ION LRT transit line, local tech hubs, university plazas, grocery stores, and vibrant dining destinations. Whether you are expanding an established multi-family portfolio or are a parent-investor searching for a low-maintenance asset with strong fundamentals, this property delivers immediate predictability. Book your private viewing today!

Details

Type
Condo Apartment
Style
Apartment
Size
1200-1399 sq ft
Basement
None
Garage
None
Kitchens
1
Property tax
$4,059 (2025)
Maintenance fee
$790/month
Municipality
Waterloo
Price per sq ft
$376 (28% below condo apartments in Waterloo, $521)
Fee per sq ft
$0.61/month

Interior

Bedrooms
5 above ground
Bathrooms
1 × 4-piece (main), 1 × 4-piece (main)
Rooms
8 above ground
Family room or den
No
Fireplace
No
Laundry
Coin Operated, In Building

Heating, cooling and services

Heating
Forced Air, Gas
Air conditioning
Central Air

Building and exterior

Style
Apartment
Exterior
Brick

Parking

Driveway and parking
Underground

Condo

Monthly fee
$790
Fee includes
Heat Included, Water Included, CAC Included, Common Elements Included, Building Insurance Included
Exposure
East
Pets
Yes-with Restrictions
Property manager
WILSON BLANCHARD

More

Possession
TBD
Cross street
University Ave W / Lester St

Rooms

RoomLevelSizeFeatures
Living RoomMain2.9 × 2.82 m (9'6" × 9'3")
Dining RoomMain3.43 × 8.43 m (11'3" × 27'8")
KitchenMain3.43 × 8.43 m (11'3" × 27'8")
FoyerMain3.43 × 8.43 m (11'3" × 27'8")
Primary BedroomMain4.6 × 2.36 m (15'1" × 7'9")
Bedroom 2Main3.73 × 2.67 m (12'3" × 8'9")
Bedroom 3Main2.64 × 3.96 m (8'8" × 13')
Bedroom 4Main3.56 × 2.64 m (11'8" × 8'8")
Bedroom 5Main4.11 × 2.34 m (13'6" × 7'8")

History of this address

9 earlier listings 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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