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280 LESTER Street Unit# 116 Waterloo
  • 280 LESTER Street Unit# 116 Waterloo
  • 280 LESTER Street Unit# 116 Waterloo
  • 280 LESTER Street Unit# 116 Waterloo
  • 280 LESTER Street Unit# 116 Waterloo
  • 280 LESTER Street Unit# 116 Waterloo
  • 280 LESTER Street Unit# 116 Waterloo
  • 280 LESTER Street Unit# 116 Waterloo
  • 280 LESTER Street Unit# 116 Waterloo
  • 280 LESTER Street Unit# 116 Waterloo
  • 280 LESTER Street Unit# 116 Waterloo
  • 280 LESTER Street Unit# 116 Waterloo
  • 280 LESTER Street Unit# 116 Waterloo
  • 280 LESTER Street Unit# 116 Waterloo

280 LESTER Street Unit# 116, Waterloo, Ontario

$649,000

  • 558 Square Feet

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:23309)

  • Listing ID: 40759992
  • Property Type: Other
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Details

  • Maintenance Fee: 549.86
  • Maintenance Fee Payment Unit: Monthly
  • Ownership: Condominium
  • Transaction: For sale
  • Zoning Description: NMU-8

Building

  • BasementType: None
  • Exterior Finish: Concrete
  • Fireplace Present: False
  • Size Exterior: 558.0000
  • Size Interior: 558 sqft
  • Stories Total: 1
  • Utility Water: Municipal water

Land

  • Sewer: Municipal sewage system
MLS®

Listing provided by Royal LePage Wolle Realty
MLS®, REALTOR®, and the associated logos are trademarks of the Canadian Real Estate Association.

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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 280 LESTER Street Unit# 116 in Waterloo Ontario. It was last modified on August 13th, 2025. Contact Heather Buchanan-Curren to schedule a viewing or to discover other Waterloo real estate for sale.

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