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401 253 Lester Street
Waterloo
N2L 3W6
$499,900
Residential
beds: 5
baths: 2.0
1,158 sq. ft.
built: 2009
- Status:
- Active
- Prop. Type:
- Residential
- MLS® Num:
- 40822088
- Bedrooms:
- 5
- Bathrooms:
- 2
- Year Built:
- 2009
- Photos (23)
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- Mortgage calculator
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253 Lester St. #401 is a turnkey student rental investment property in the heart of Waterloo’s 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 you’re an experienced investor or looking for your first student rental property, this unit offers hands-off potential with proven gross rental income potentially exceeding $45,000 per year (based on current market rents in the building). Many similar units in the complex are fully tenanted with long-term leases, delivering stable cash flow in this ever-growing university hub.
Don’t miss your chance to own a worry-free (excellent onsite management available), income-generating property in one of Waterloo’s most sought-after student locations. Schedule your viewing today!
- Property Type:
- Residential
- Property SubType:
- Condo/Apt Unit
- Year built:
- 2009 (Age: 17)
- Listing General Location:
- 417 - Beechwood/University, 4 - Waterloo West
- Bedrooms:
- 5
- Bathrooms:
- 2.0 (Full:2/Half:0)
- Frontage Type:
- East
- Kitchens:
- 1
- County Or Parish:
- Waterloo
- Property Attached:
- Attached
- Features:
- Crops Included: No, Garage: No, Common Elements Fee: No, New Construction: No
- Construction:
- Stucco
- Roof:
- Metal
- Number of Buildings:
- 0
- Total Floor Area:
- 1,158 sq. ft.
- # Main Level Bedrooms:
- 5
- # Main Level Bathrooms:
- 2
- Finished Area Above Grade:
- 1,158 sq. ft.
- Fireplace:
- false
- Laundry Features:
- In Building
- Water Supply:
- Municipal
- Sewer:
- Sewer (Municipal)
- Cooling:
- Central Air
- Heating:
- Forced Air
- Microwave,Refrigerator,Stove
- Microwave, Refrigerator, Stove
- Separate Heating Controls
- Elevator(s)
- false
- No
- No
- No
- HST Applicable To Sale Price:
- Included
- Features:
- Crops Included: No, Garage: No, Common Elements Fee: No, New Construction: No
- Condo Corporation Number:
- 641
- Condo Corporation:
- Yes
- Zoning:
- GR
- Exposure / Faces:
- East
- Lot Site Features:
- Urban, Highway Access, Library, Place of Worship, Schools, Shopping Nearby
- Features:
- Crops Included: No, Garage: No, Common Elements Fee: No, New Construction: No
- # Of Total Parking Spaces:
- 0.0
- # Of Open Parking Spaces:
- 0.0
- Driveway Parking:
- Street Parking Only, Visitor Parking
- Listed Date:
- Apr 20, 2026
-
Multi-story building featuring a brick base and stucco facade with a prominent red architectural accent -
Multi-story building featuring a brick base, stone facade, and stucco exterior with contrasting red and beige sections
-
Multi-story building featuring a light blue hip roof, a prominent red central facade, and multiple windows
-
Aerial perspective showcasing a dense urban environment with a variety of architectural styles
-
Aerial perspective showcasing a multi-story building prominently marked, surrounded by other residential and commercial structures
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Aerial perspective showcasing an urban landscape with diverse residential and commercial buildings
-
Aerial overview showcasing the property's proximity to urban amenities and educational institutions
-
Building facade featuring a stone and stucco exterior, multiple windows, and a concrete pathway leading to the main entrance
-
Entryway featuring a glass-paneled door, recessed lighting, and a combination of wood-paneled and textured tile walls
-
Floor plan
-
Image quality insufficient for description
-
Functional kitchen featuring light wood-finish cabinetry, white appliances, and tiled flooring
-
Open-concept living area with tiled flooring
-
Central common area featuring light-toned walls and a white tiled floor
-
Image quality insufficient for description
-
Bathroom featuring a white vanity with integrated sink, chrome faucet, and a wall-mounted circular mirror
-
Photo 17 of 23
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Entryway closet with wire shelving
-
Entryway featuring light neutral walls and a light wood-finish door with silver-tone hardware
-
Bathroom featuring a white bathtub with a shower, a toilet, a vanity with an integrated sink, and an oval mirror
-
Carpeted room featuring a single window with blinds, a ceiling-mounted light fixture, and neutral-toned walls
-
Room featuring light gray carpet flooring, an open closet with built-in shelving, a neutral wall color, and a textured white ceiling
-
Dedicated laundry area featuring beige tiled walls and light-colored flooring
Listed by BENJAMINS REALTY INC.
Data was last updated September 5, 2026 at 11:50 PM (UTC)
Area Statistics
- Listings on market:
- 49
- Avg list price:
- $449,900
- Min list price:
- $199,000
- Max list price:
- $1,470,000
- Avg days on market:
- 54
- Min days on market:
- 3
- Max days on market:
- 215
- Avg price per sq.ft.:
- $434.5
These statistics are generated based on the current listing's property type
and located in
417 - Beechwood/University. Average values are
derived using median calculations. This data is not produced by
the MLS® system.
- SURESH KUMAR
- RE/MAX TWIN CITY REALTY INC.
- 1 (647) 9017116
- Contact by Email
Your Trusted Partner in Real Estate. Contact me at 647-901-7116 for all your property needs.
Contact Us
Direct: 647-901-7116
info@sureshkangayam.com
Head Office
901 Victoria Street, North
Kitchener, ON, N2B 3C3
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.