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
- Style
- Apartment
- Square footage
- 1200-1399 sq ft
- Bedrooms
- 5
- Bathrooms
- 2
- Kitchens
- 1
- Rooms
- 7
- Basement
- None
- Faces
- East
- Level
- 3
- Laundry
- Common Area, Coin Operated
Ownership & fees
- Ownership
- Condominium
- Maintenance fee
- $696.71/mo
- Fee includes
- Heat, Water, Parking, Building Insurance
- Complex
- WSCP 586
- Property management
- Wilson Blanchard
- Pets
- Allowed, with restrictions
- Exterior
- Brick Veneer, Concrete
Heating & cooling
- Heating fuel
- Gas
- Heating type
- Forced Air
- Air conditioning
- Central Air
- Fireplace
- No
Garage & parking
- Garage
- Surface
- Garage spaces
- 1
- Total parking
- 1
- Parking features
- Covered
Taxes & other
- Property taxes
- $3,891/yr
- Tax year
- 2026
- Occupancy
- Tenant
- Possession
- Flexible
- Cross street
- Lester / University
More
- Price per sq ft
- ~$420 (at 1,300 sq ft)
- Listed
- Oct 15, 2026 · yesterday
- MLS® number
- X14081834
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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 home and others at the same address 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 home’s MLS® listing.
How much is 301 - 271 Lester Street listed for, and what would it cost each month?
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. Add property tax and the maintenance fee and the estimate comes to about $3,223 a month, all in. That figure is an illustration, not a quote.
Is 301 - 271 Lester Street freehold or a condo, and is there a monthly fee?
301 - 271 Lester Street is a condo apartment in Waterloo. Ownership is condominium: you own the unit and a condo corporation looks after the common elements. 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.
How many bedrooms and bathrooms does 301 - 271 Lester Street have?
301 - 271 Lester Street has 5 bedrooms and 2 bathrooms.
Does 301 - 271 Lester Street have a garage and parking?
Yes. The listing shows the garage as surface, with room for 1 car. In total the listing counts 1 parking space.
Does 301 - 271 Lester Street have a finished basement?
No. The listing shows no basement for this home.
What style of home is 301 - 271 Lester Street?
301 - 271 Lester Street is a condo apartment. A condo apartment is a unit in a multi-storey building, owned outright, with a monthly fee for the shared parts of the building.
How big is 301 - 271 Lester Street?
The listing puts the home between 1,200 and 1,399 sq ft. The board reports a range rather than an exact figure, and it usually leaves out the basement.
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.
Are pets allowed at 301 - 271 Lester Street?
Pets are allowed, with restrictions. A condo corporation can limit the size, number or type of pet, so check the condo corporation’s rules before you offer.
Where is 301 - 271 Lester Street?
301 - 271 Lester Street is in Waterloo. The nearest main intersection is Lester / University. The postal code is N2L 3W6.
How long has 301 - 271 Lester Street been on the market?
301 - 271 Lester Street was listed on October 15, 2026. It has been on the market for 1 day. It is an active listing (MLS® X14081834). Listings here update from the board through the day and come down once a home sells.
What are similar condos near 301 - 271 Lester Street asking?
Similar condos for sale nearby right now include 101 - 251 Lester Street at $509,000 (5 bed), 101 - 253 Lester Street at $509,000 (5 bed) and 401 - 251 Lester Street at $509,000 (5 bed). These are asking prices, not sold prices. The Sold history tab shows what homes at this address went for.
What have homes at 271 Lester Street sold for?
Recent sales, leases and expired listings for this home and others at the same address 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 home 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.