253 Lester Street, Unit 503, Waterloo, ON
Property no longer active
This property was sold on June 14, 2025. This listing is for reference purposes only. to view the sold price.
Property Highlights
Welcome to this remarkable Apartment condo apartment located in the coveted neighborhood of Waterloo. Expertly crafted featuring premium brick and concrete construction, this residence presents an exceptional opportunity offered at $585,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 5 Bedrooms and 2 Bathrooms
- Generous living space spanning 1200-1399 sqft
- 0.0 total parking spaces available
- Notable attributes: None
- equipped with central air central cooling and highly efficient forced air heating via gas
Description
Generating over $53,000/year in Gross Revenue, this powerhouse of a student rental is a guaranteed money maker and one of the best passive investment models in the Waterloo Region. Walking distance to both Laurier and UW, theres no shortage of students eager to move here, and many stay for the duration of their education. With 5 bedrooms, 2 full bathrooms, and a massive open-concept living area, the attention to detail and practicality of construction in this purpose-built property make ownership a breeze. Even the furniture is included for a completely seamless and hassle-free tenant turnover. And the condo fees include Heat and Water for your peace of mind. Fully tenanted with the loveliest undergrads, there are 4 leases in place through to August 2026, and one lease ending in Aug 2025. Opt-in to the professional Property Management for a completely hands-off investment approach that delivers positive cashflow every single month.With ample parking located behind the property, a shared laundry area, an elevator for accessibility, close to eateries and amenities and transit, 253 Lester Street sure is a low risk income property to slide into your portfolio. Let's get you in for a closer look soon.
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Property Summary
This condo apartment located at 253 Lester Street, Waterloo is currently for sale and has been available on SousaSells for 481 days. This property is listed at $585,000 with an estimated mortgage of $1,947* per month. It has 5 beds, 2 bathrooms, and is 1200-1399 square feet. 253 Lester Street, Waterloo
* Estimated mortgage assumes a 30% down payment, 4.00% interest rate, and 30-year amortization.Key Features
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No historical data available for this property.
This could be the first listing for this address.
Pricing & Value Insights
Data-driven valuation for 253 Lester Street 503, Waterloo, ON N2L 3W6
Based on 0 recent similar sales in the pocket.
Properties in this area are selling at a steady pace.
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About Purchasing a Home in Waterloo, ON
For a property listed at $585,000 in Waterloo, the legal minimum down payment is $33,500 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $8,175 for this transaction. As this listing is in Waterloo (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $8,175.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.