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401 - 251 LESTER STREET, Waterloo — listed at $509,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
Incredible turnkey investment in the heart of Waterloo's university district! This purpose-built 5-bedroom, 2-bathroom condo at 251 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 facilities, elevator access, and proximity to transit, shops, and various amenities. (id:60164)
What do the condo/maintenance fees cover?+
The $802/mo fee covers: Common Area Maintenance, Heat, Water, Insurance.
What's the parking situation?+
This property includes 0 spaces — Garage, Underground.
Is 401 - 251 LESTER STREET a good fit for a growing family?+
With 5 bedrooms and 2 bathrooms, there's room for kids plus a guest room or home office.
Does it have a basement, and is it finished?+
The listing describes the basement as: None. Confirm the finishing status during a showing — it affects both livable space and resale value.
Is there air conditioning?+
Yes — central air conditioning, ventilation system cooling is in place.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $4,370, a condo/maintenance fee of $802/mo, heating is natural gas, coil fan. Always verify the latest figures with your agent before making an offer — these change yearly.
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