301 - 271 Lester Street, Waterloo, ON N2L 3W6
Waterloo · Near Lester / University · View map
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.
The home
- Type
- Condo Apartment
- Square footage
- 1200-1399 sq ft
- Bedrooms
- 5
- Bathrooms
- 2
- Kitchens
- 1
- Rooms
- 7
- Floor
- 3rd
- Exposure
- East
- Balcony
- None
- Laundry
- Common Area, Coin Operated
Building & fees
- Maintenance fee
- $696.71/mo
- Fee includes
- Heat, Water, Parking, Building Insurance
- Condo corporation
- WSCP 586
- Property management
- Wilson Blanchard
- Pets
- Allowed, with restrictions
- Locker
- None
- Exterior
- Brick Veneer, Concrete
Heating & cooling
- Heating fuel
- Gas
- Heating type
- Forced Air
- Air conditioning
- Central Air
- Fireplace
- No
Parking
- Parking spaces
- 1
- Garage
- Surface
- Parking features
- Covered
Taxes & other
- Property taxes
- $3,891/yr
- Tax year
- 2026
- Occupancy
- Tenant
- Possession
- Flex
- Cross street
- Lester / University
More
- Price per sq ft
- ~$420 (at 1,300 sq ft)
- Listed
- Jul 20, 2026 · 82 days ago
- MLS® number
- X13585568
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Included in the maintenance fee
- Heat
- Water
- Parking
- 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.
271 Lester Street, Waterloo, ON N2L 3W6
Waterloo · Near Lester / University
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Listing history for 271 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 301 - 271 Lester Street
Answers come straight from this condo’s MLS® listing.
How much is 301 - 271 Lester Street listed for?
301 - 271 Lester Street is listed for $545,900. With 20% down ($109,180), the mortgage payment would be roughly $2,202 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 301 - 271 Lester Street have?
301 - 271 Lester Street has 5 bedrooms and 2 bathrooms.
How big is 301 - 271 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 301 - 271 Lester Street?
301 - 271 Lester Street is a condo apartment in Waterloo. The unit is on the 3rd floor, facing east.
What are the maintenance fees at 301 - 271 Lester Street, and what do they cover?
The maintenance fee is $696.71 a month. The listing says it covers heat, water, parking, building insurance. Fees can change, so confirm the current amount in the status certificate.
Does 301 - 271 Lester Street come with parking and a locker?
The listing includes 1 parking space. There is no locker with the unit.
Are pets allowed at 301 - 271 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 301 - 271 Lester Street heated and cooled?
Heating is forced air (gas). Cooling is central air.
What are the property taxes for 301 - 271 Lester Street?
Property taxes are $3,891 a year (2026), or about $324 a month.
What neighbourhood is 301 - 271 Lester Street in?
301 - 271 Lester Street is in Waterloo. The nearest main intersection is Lester / University. The postal code is N2L 3W6.
Is 301 - 271 Lester Street still for sale?
Yes. 301 - 271 Lester Street is an active listing (MLS® X13585568), on the market since July 20, 2026. Listings here update from the board through the day and come down once a condo sells.
What have condos at 271 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 301 - 271 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.