101 - 253 Lester Street, Waterloo, ON N2L 3W6
Waterloo · Near University Ave W/Lester St · View map
About this home
Incredible turnkey investment in the heart of Waterloo's university district! This purpose-built 5-bedroom, 2-bathroom condo at 253 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, elevator access, and proximity to transit, shops, and amenities.
The home
- Type
- Condo Apartment
- Square footage
- 1000-1199 sq ft
- Bedrooms
- 5
- Bathrooms
- 2
- Kitchens
- 1
- Rooms
- 8
- Floor
- 2nd
- Exposure
- North West
- Balcony
- None
- Laundry
- Coin Operated, In Building
- Approximate age
- 16-30 years
Building & fees
- Maintenance fee
- $802.00/mo
- Fee includes
- Heat, Water, CAC, Common Elements, Building Insurance
- Condo corporation
- WSCC 641
- Property management
- CIE Property Management
- Pets
- Allowed, with restrictions
- Locker
- Ensuite+Common
- Exterior
- Brick
Heating & cooling
- Heating fuel
- Gas
- Heating type
- Forced Air
- Air conditioning
- Central Air
- Fireplace
- No
Parking
- Parking spaces
- None
- Parking features
- Underground
Taxes & other
- Property taxes
- $3,950/yr
- Tax year
- 2026
- Occupancy
- Tenant
- Possession
- TBD/Flexible
- Cross street
- University Ave W/Lester St
More
- Price per sq ft
- ~$463 (at 1,100 sq ft)
- Listed
- Jul 17, 2026 · 85 days ago
- MLS® number
- X13575452
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Included in the maintenance fee
- Heat
- Water
- CAC
- Common Elements
- Building Insurance
- Mortgage
- Property tax
- Maintenance fee
Cash needed to close
Estimates only, using Canadian semi-annual compounding, Ontario land transfer tax. Mortgage default insurance is added when you put down less than 20%. Your lender and lawyer will confirm exact numbers.
253 Lester Street, Waterloo, ON N2L 3W6
Waterloo · Near University Ave W/Lester St
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Listing history for 253 Lester Street
See what this unit and others in the building were listed for, what they sold for, and how long it took.
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Frequently asked questions about 101 - 253 Lester Street
Answers come straight from this condo’s MLS® listing.
How much is 101 - 253 Lester Street listed for?
101 - 253 Lester Street is listed for $509,000. With 20% down ($101,800), the mortgage payment would be roughly $2,053 a month at 4.5% over 30 years, before the maintenance fee and property tax. That figure is an illustration, not a quote.
How many bedrooms and bathrooms does 101 - 253 Lester Street have?
101 - 253 Lester Street has 5 bedrooms and 2 bathrooms.
How big is 101 - 253 Lester Street?
The listing puts the unit between 1,000 and 1,199 sq ft. The board reports a range rather than an exact figure, and it does not include a balcony or terrace.
What type of home is 101 - 253 Lester Street?
101 - 253 Lester Street is a condo apartment in Waterloo. The unit is on the 2nd floor, facing north west.
What are the maintenance fees at 101 - 253 Lester Street, and what do they cover?
The maintenance fee is $802.00 a month. The listing says it covers heat, water, cac, common elements, building insurance. Fees can change, so confirm the current amount in the status certificate.
Does 101 - 253 Lester Street come with parking and a locker?
The listing does not include a parking space. The locker is listed as ensuite+common.
Are pets allowed at 101 - 253 Lester Street?
Pets are allowed, with restrictions. Buildings often limit the size, number or type of pet, so check the condo rules before you offer.
How is 101 - 253 Lester Street heated and cooled?
Heating is forced air (gas). Cooling is central air.
What are the property taxes for 101 - 253 Lester Street?
Property taxes are $3,950 a year (2026), or about $329 a month.
What neighbourhood is 101 - 253 Lester Street in?
101 - 253 Lester Street is in Waterloo. The nearest main intersection is University Ave W/Lester St. The postal code is N2L 3W6.
Is 101 - 253 Lester Street still for sale?
Yes. 101 - 253 Lester Street is an active listing (MLS® X13575452), on the market since July 17, 2026. Listings here update from the board through the day and come down once a condo sells.
What have condos at 253 Lester Street sold for?
Recent sales, leases and expired listings for this unit and the rest of the building are in the Sold history tab, with the price and date of each. It is free for members.
How do I book a showing at 101 - 253 Lester Street?
Pick a day and time with Book a Tour on this page. Tours are free, with no obligation, in person or by video. You can also call or text 647-619-2256.
Have a different question? Ask about this condo and get an answer, usually within the hour.
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Listing information comes from the Toronto Regional Real Estate Board through PropTx and is deemed reliable but is not guaranteed accurate. It is provided for consumers' personal, non-commercial use. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
*Estimated monthly cost assumes 20% down, a 4.5% rate and a 30-year amortization, plus property tax and the maintenance fee. For illustration only.