1 of 13 - 280 Lester Street Unit# 116, Waterloo, Ontario
2 of 13 - 280 Lester Street Unit# 116, Waterloo, Ontario
3 of 13 - 280 Lester Street Unit# 116, Waterloo, Ontario
4 of 13 - 280 Lester Street Unit# 116, Waterloo, Ontario
5 of 13 - 280 Lester Street Unit# 116, Waterloo, Ontario
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280 Lester Street Unit# 116, Waterloo, Ontario

$649,000

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558

Square feet

About 280 Lester Street Unit# 116

This unit is currently tenanted with a lease (5 years) in place until November 2028, and rent escalates annually from $4,350.50/month now to $5,791.25/month in the final year. Net annual income averages ~$40,293 over the next 3.5 years, resulting in a strong ~6.21% cap rate. There is a 5 year renewal option in the lease. Given the location, secure cash flow, and minimal upkeep, this property would appeal greatly to passive investors. Why Invest? - Long-term, escalating lease in place - Low operational burden - Strong rental growth outlook - Located in high-demand core Perfect for hands-off investors seeking passive income and asset appreciation (id:6289)

Features of 280 Lester Street Unit# 116

Listing # 40759992
Price $649,000
Bathrooms 0.00
Square Footage 558
Acres 0.00
Type Other
Sub-Type Condominium

Community Information

Address 280 Lester Street Unit# 116
Subdivision 417 - Beechwood/University
City Waterloo
Province Ontario
Postal Code N2L3W5

Amenities

Is Waterfront No
Has Pool No

Interior

Fireplace No
# of Stories 1
Has Basement No

Exterior

Exterior Concrete

Listing Details

OfficeRoyal LePage Wolle Realty

Listing Map

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Listing information last updated on October 28th, 2025 at 2:16pm PDT.