Salehian.com 647-325-5000

271 Lester Street 301

Waterloo, N2L 3W6 · More in this building

$545,900

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

Listed 5 days ago · MLS® X14081834

About this home

Fully tenanted five-bedroom condo steps from both the University of Waterloo and Wilfrid Laurier University - a turnkey investment generating income from day one. All five rooms are currently leased at $4,550 per month in gross rent, so you step into immediate, predictable cash flow with no lease-up period. The economics are clean and the margins protected: heat, water and one owned parking space are included in the monthly condo fee, tenants pay their own hydro, and as a condo you avoid the roof, exterior, and grounds maintenance that erode returns on a student-rental house - keeping management focused on the tenants alone. The roughly 1,355 square foot layout offers five well-proportioned bedrooms, an upgraded kitchen, and two full bathrooms, with gas forced-air heat, central air conditioning, elevator, and on-site laundry. It comes furnished, so the unit stays rent-ready between terms. The owned parking space is a rarity here, where most units come with none, and adds a second income lever or a standout perk that keeps rooms easy to fill. Location drives the demand: ION light rail is about a ten minute walk at both the Laurier-Waterloo Park and University of Waterloo stations, University Shops Plaza puts groceries and restaurants at the doorstep, and both campuses are close by, keeping occupancy tight each September. A practical, well-located asset in one of Ontario's tightest student housing markets, with rooms rolling through 2026 and 2027 and flexible possession to suit your timeline.

Details

Type
Condo Apartment
Style
Apartment
Size
1200-1399 sq ft
Basement
None
Garage
Surface
Kitchens
1
Property tax
$3,891 (2026)
Maintenance fee
$697/month
Municipality
Waterloo
Price per sq ft
$420 (19% below condo apartments in Waterloo, $521)
Fee per sq ft
$0.54/month

Interior

Bedrooms
5 above ground
Bathrooms
2 × 3-piece
Rooms
7 above ground
Family room or den
Yes
Fireplace
No
Laundry
Common Area, Coin Operated

Heating, cooling and services

Heating
Forced Air, Gas
Air conditioning
Central Air

Building and exterior

Style
Apartment
Exterior
Brick Veneer, Concrete

Parking

Garage spaces
1
Total parking
1
Driveway and parking
Covered

Condo

Monthly fee
$697
Fee includes
Heat Included, Water Included, Parking Included, Building Insurance Included
Exposure
East
Pets
Yes-with Restrictions
Property manager
Wilson Blanchard

More

Possession
Flexible
Cross street
Lester / University

History of this address

3 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

  • 🚇 University of Waterloo LRT7 min walk
  • 🚇 Laurier - Waterloo Park LRT10 min walk

Within a 10-minute walk: 3 grocery stores, 106 cafés and restaurants, 8 parks, 3 pharmacies. Nearest grocery: Rong Natural Food Store (150 m). Nearest park: Sunview park (150 m).

Schools nearby

Elementary

  • Winston Churchill Public School
    EQAO: Gr 6 reading 88%, math 56%    1.3 km
  • Keatsway Public School
    EQAO: Gr 6 reading 84%, math 50%    1.8 km
  • Our Lady of Lourdes Catholic Elementary School Catholic
    EQAO: Gr 6 reading 83%, math 45%    1.9 km
  • Cedarbrae Public School
    EQAO: Gr 6 reading 76%, math 14%    2.0 km

Secondary

  • Waterloo Collegiate Institute
    EQAO: Gr 9 math 57%, literacy test 85%    11 min walk
  • MacGregor Public School15 min walk
  • St. David Catholic Secondary School Catholic
    EQAO: Gr 9 math 67%, literacy test 97%    17 min walk

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 RE/MAX HALLMARK REALTY LTD..

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

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