251 Lester St

251–253 Lester Street in Waterloo is a mid-rise, purpose-built student residential condominium completed in 2017. The six-storey building contains multiple five-bedroom, two-bathroom units designed for rental income, with typical unit sizes around 1,300 square feet. Recent sales have averaged approximately $500,000, with monthly condo fees averaging roughly $790 (about $0.64 per square foot), which include heat, water, and building insurance. Located steps from the University of Waterloo and Wilfrid Laurier University, the property attracts consistent student tenant demand and offers amenities including elevator access, parking, and shared laundry. Before committing to purchase, obtain and have a qualified professional review the status certificate, reserve fund study, board minutes, current budget, and financial statements to understand the building's financial health and any upcoming assessments.