280 Lester Street Unit# 116 Waterloo, Ontario N2L 3W5
$649,000Maintenance,
$549.86 Monthly
Maintenance,
$549.86 MonthlyThis 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:43503)
Property Details
| MLS® Number | 40759992 |
| Property Type | Other |
| Neigbourhood | Northdale |
Building
| Basement Type | None |
| Exterior Finish | Concrete |
| Stories Total | 1 |
| Size Exterior | 558.0000 |
| Size Interior | 558 Ft2 |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Sewer | Municipal Sewage System |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | Nmu-8 |
https://www.realtor.ca/real-estate/28730669/280-lester-street-unit-116-waterloo
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August 14 2025 02:00:35
Waterloo Region Association of REALTORS®
Royal LePage Wolle Realty