Unit 503, 253 Lester Street
Waterloo, ON N2L 3W6
253 Lester Street4 storeys- 5Bedrooms
- 2Bathrooms
- 0Parking
- 1200–1399Sq Ft
- $3,499Tax
- $790/moCondo Fee
Estimated Value:$514,784See Free Estimate Report
This home has sold. It is no longer available.
Property not available for sale or for rent.
Sale & Price History for Unit 503, 253 Lester Street, Waterloo
| Start Date | End Date | Price | Event | MLS# |
|---|---|---|---|---|
| 2025-03-24 | 2025-06-14 | Login to See Prices | Sold | x12037147 |
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*Sold prices and complete sale & price history are regulated data. Under the Trust in Real Estate Services Act, 2002 (TRESA) and the rules of the Real Estate Council of Ontario (RECO), and pursuant to the Multiple Listing Service® rules of the Canadian Real Estate Association (CREA) and the Toronto Regional Real Estate Board (TRREB), this information may be shown only to registered users who have agreed to the applicable terms of use (a Virtual Office Website, or "VOW," arrangement). HOMEH Inc., Brokerage therefore provides it to signed-in members only. Creating an account is free and takes under a minute.
About Unit 503, 253 Lester Street, Waterloo
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.
Key Facts & Features
Property Costs
- Annual Property Tax Amount
- $3,499
- Land Transfer Tax Fee
- $8,175
Condo/Maintenance Fee
- Maintenance Fee
- $790 /month
Included In Maintenance Fee
- Heat Included
- Water Included
- Building Insurance Included
- CAC Included
Rental Items
- Under Contract
- None
- Basement Type
- None
Interior Features
- Pets Permitted
- Yes-with Restrictions
- Laundry Features
- Coin Operated
- Laundry Level
- Lower Level
- Interior Extras
- None
- Fireplace/Stove
- No
- Elevator
- Yes
Exterior Features
- Balcony
- None
- Exterior Extras
- Controlled Entry
Building
- Building Type
- Condo Apartment
- Building Style
- Apartment
- Approx Age
- 11-15
- Condo Corp Number
- 641
Construction
- Exposure
- East
- Exterior Finish
- Brick, Concrete
- Roof
- Asphalt Shingle
- Foundation Details
- Poured Concrete
- Special Designation
- Unknown
Inclusions
- Inclusions
- Stove, Fridge, Dishwasher, 5xBeds, 5xDesks, Dining Table w 4xChairs, Couch, Coffee Table, 2xChairs, All Window Coverings
Exclusions
- Exclusions
- Tenants Belongings
Parking & Garages
- Garage Type
- None
- Garage Spaces
- 0
- Parking Type
- None
- Parking Spaces
- 0
- Total Garage And Parking Spaces
- 0
Lockers
- Locker Type
- None
Heating & Cooling
- Heat Source
- Gas
- Heat Type
- Forced Air
- Air Conditioning
- Central Air
- Bedrooms
- 5
- Washrooms
- 2
- Kitchens
- 1
- Family / bonus room
- Yes
Room sizes
- Bedroom—Main level
- Bedroom 2—Main level
- Bedroom 3—Main level
- Bedroom 4—Main level
- Bedroom 5—Main level
- Bathroom—Main level, 3 Pc Bath
- Bathroom—Main level, 4 Pc Bath
- Kitchen—Main level
- Living Room—Main level
Washrooms
- 4-piece, Main
- 3-piece, Main
- Municipality
- Waterloo
- Main cross streets
- University and Lester
- Zoning
- GR
- MLS® number
- X12037147
- Data source
- Toronto Regional Real Estate Board
- Status change
- 2025-06-14
- Listed on
- 2025-03-24
- Days on market
- 82 days
- Possession type
- Flexible
- Co-op commission
- 2.0+Hst
- Seller
- Listed by
- Trilliumwest Real Estate Brokerage Ltd
Home Market Value
Current home valuation for Unit 503, 253 Lester Street, Waterloo, , . Listed for $585,000
HOMEH Estimate
$514,784
Estimated Sales Range
$445,442 - $584,126
HOMEH Estimate for Unit 503, 253 Lester Street, Waterloo
Calculated with a real agent's CMA method — 45+ years of experience, codified. Not an AI guess.
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Mortgage Payment Calculator
Compare up to 4 down payment scenarios
5% on first $500K + 10% on $85,000 over $500K
$33,500
| Scenario 1 | Scenario 2 | Scenario 3 | Scenario 4 | |
|---|---|---|---|---|
−Down payment | % $ | % $ | % $ | % $ |
+CMHC insurance | $22,043 | $16,322 | $13,923 | $0 |
=Total mortgage | $573,113 | $542,822 | $511,173 | $468,000 |
Amortization | ||||
Mortgage rate | % | % | % | % |
| Payment frequency | ||||
=Mortgage payment | $2,798monthly | $2,650monthly | $2,496monthly | $2,285monthly |
Land Transfer Tax
$8,175
$8,175
Around this home
Data provided by OpenStreetMap & Fraser Institute School Rankings
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