206 - 251 Lester Street, Waterloo, ON N2L 3W6
Waterloo · Near University Ave W / Lester St · View map
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!
The home
- Type
- Condo Apartment
- Square footage
- 1200-1399 sq ft
- Bedrooms
- 5
- Bathrooms
- 2
- Kitchens
- 1
- Rooms
- 8
- Floor
- 2nd
- Exposure
- East
- Balcony
- None
- Laundry
- Coin Operated, In Building
Building & fees
- Maintenance fee
- $790.49/mo
- Fee includes
- Heat, Water, CAC, Common Elements, Building Insurance
- Condo corporation
- WSCC 641
- Property management
- WILSON BLANCHARD
- Pets
- Allowed, with restrictions
- Locker
- None
- 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
- $4,059/yr
- Tax year
- 2025
- Occupancy
- Tenant
- Possession
- TBD
- Cross street
- University Ave W / Lester St
More
- Price per sq ft
- ~$376 (at 1,300 sq ft)
- Listed
- Oct 5, 2026 · 6 days ago
- MLS® number
- X13861922
No matching details. Ask Will instead
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.
251 Lester Street, Waterloo, ON N2L 3W6
Waterloo · Near University Ave W / Lester St
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Listing history for 251 Lester Street
See what this unit and others in the building were listed for, what they sold for, and how long it took.
Sold prices are for members. It’s free, takes a few seconds, and unlocks the sale history on every condo.
Frequently asked questions about 206 - 251 Lester Street
Answers come straight from this condo’s MLS® listing.
How much is 206 - 251 Lester Street listed for?
206 - 251 Lester Street is listed for $489,000. With 20% down ($97,800), the mortgage payment would be roughly $1,972 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 206 - 251 Lester Street have?
206 - 251 Lester Street has 5 bedrooms and 2 bathrooms.
How big is 206 - 251 Lester Street?
The listing puts the unit between 1,200 and 1,399 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 206 - 251 Lester Street?
206 - 251 Lester Street is a condo apartment in Waterloo. The unit is on the 2nd floor, facing east.
What are the maintenance fees at 206 - 251 Lester Street, and what do they cover?
The maintenance fee is $790.49 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 206 - 251 Lester Street come with parking and a locker?
The listing does not include a parking space. There is no locker with the unit.
Are pets allowed at 206 - 251 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 206 - 251 Lester Street heated and cooled?
Heating is forced air (gas). Cooling is central air.
What are the property taxes for 206 - 251 Lester Street?
Property taxes are $4,059 a year (2025), or about $338 a month.
What neighbourhood is 206 - 251 Lester Street in?
206 - 251 Lester Street is in Waterloo. The nearest main intersection is University Ave W / Lester St. The postal code is N2L 3W6.
Is 206 - 251 Lester Street still for sale?
Yes. 206 - 251 Lester Street is an active listing (MLS® X13861922), on the market since October 5, 2026. Listings here update from the board through the day and come down once a condo sells.
What have condos at 251 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 206 - 251 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.