$545,900
271 Lester Street 301, Waterloo, ON N2L 3W6
Waterloo · N2L 3W6
Listing brokerage: RE/MAX HALLMARK REALTY LTD.
- Beds
- 5
- Baths
- 2
- Sq ft
- 1200–1399
- Parking
- 1
Monthly costs
Maintenance
$697/mo
$0.56 per sq ft
The unit
- Parking
- 1 spot
- Balcony
- -
The building
271 Lester Street 301
- 1 for rent
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.
All details5 more from the listing · Interior, Listing
Interior
- Bedrooms
- 5
- Bathrooms
- 2
- Size
- 1200-1399 sq ft
Listing
- MLS® number
- X13585568
- Type
- Condo Apartment
History
Past listings and sales for this home and building.
Location
271 Lester Street 301, Waterloo, ON N2L 3W6
Monthly cost
Estimated monthly cost
$3,114/mo
- Mortgage
- $2,417
- Maintenance
- $697
Amortization
Estimate only, for illustration. Includes mortgage default insurance when less than 20% is put down. Property tax not included. Speak with a lender for an exact figure.
Cash to close
Cash to close
$118,828
$109,180 down + $9,648 to $10,898 in closing costs
- Ontario land transfer tax
- $7,393
- Legal fees and disbursements
- $1,500 to $2,500
- Title insurance
- $250 to $500
- Status certificate
- $100
- Condo fee adjustment
- $405
Estimate only, not legal or tax advice. Rates as of 2026-10-14 from Ontario, City of Toronto and CMHC published rates. Legal and title figures are typical ranges. Adjustments assume the seller prepaid the closing month. First-time rebates have eligibility rules; confirm with your lawyer.
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$545,900
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