Property Information:

A five-bedroom condo, a short walk from both the University of Waterloo and Wilfrid Laurier University, this is a flexible income property suited to investors and to parents buying for a student. Two rooms are tenanted and three are available for September 1, so a buyer can lease the open rooms at current market rent, or a parent can house their own student in one room and rent the others, often to the student's friends, so the rental income offsets the cost of ownership. The economics are clean: heat, water and one owned parking space are all included in the monthly condo fee, and tenants pay their own hydro, so ongoing owner costs stay low and predictable. As a condo, it also spares an owner the exterior upkeep, roof and grounds maintenance that come with a student-rental house, keeping day-to-day 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, bright east exposure, and the convenience of an elevator and on-site laundry, and it comes furnished. The owned parking space is a rarity here, where most units come with none, and the building itself is notably quiet. Location drives the demand: the ION light rail is within about a ten minute walk at both the Laurier-Waterloo Park and University of Waterloo stations, University Shops Plaza puts groceries and a wide range of restaurants at the doorstep, and Waterloo Park and both campuses are all close by, keeping these rooms easy to fill each September. A practical, well-located asset in one of Ontario's tightest student housing markets, with flexible possession to suit your timeline. (id:27)

Building Features:

Style: Apartment
Building Type: Apartment
Basement Type: None
Exterior Finish: Concrete
Floor Space: 1200 - 1399 sqft
Heating Type: Forced air
Heating Fuel: Natural gas
Cooling Type: Central air conditioning
Appliances: Dishwasher, Stove, Window Coverings, Refrigerator

Property Features:

OwnershipType: Condominium/Strata
Property Type: Single Family
Bedrooms: 5
Bathrooms: 2
Community Features: Pets Allowed With Restrictions
Condo Fees: $696 Monthly
Features: Laundry- Coin operated
Floor Space (approx): 1200 - 1399 Square Feet
MaintenanceFee Type: Heat, Water, Insurance
Parking Type: Garage, Covered
No. of Parking Spaces: 1

Courtesy of: RE/MAX HALLMARK REALTY LTD.

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Demographic Information of 301 - 271 LESTER STREET, Waterloo, Ontario, N2L 3W6

Life Stage

Young Singles

Employment Type

Service Sector/White Collar

Average Household Income

$57,403.85

Average Number of Children

1.62

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

1.84 %

High school certificate or equivalent

44.01 %

Apprenticeship trade certificate/diploma

0.88 %

College/non-university certificate

7.85 %

University certificate (below bachelor)

1.23 %

University Degree

44.19 %

Commuter

Travel To Work

By Car

51.37 %

By Public Transit

25.77 %

By Walking

16.99 %

By Bicycle

2.1 %

By Other Methods

3.77 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

94.02 %

Houses

5.98 %

301 - 271 LESTER STREET, Waterloo, Ontario, N2L 3W6