54 Park Street Kitchener, Ontario N2G 1M3
$1,150,000
Fully occupied legal triplex in one of Downtown Kitchener's most sought-after investment pockets, offering an impressive 5.35% CAP rate and exceptional long-term upside. Ideally located just steps to Victoria Park and only a couple blocks from Downtown Kitchener, Google, the School of Pharmacy, and the Tannery, this is a prime, walkable location that continues to attract quality tenants and strong rental demand. This is not your typical cookie-cutter rental property. Originally built in 1923 and thoughtfully converted, this heritage home blends timeless character, exposed brick, architectural charm, and unique design elements with modern updates and amenities that today's tenants love. Comprised of three well-appointed and fully leased units, the property offers stable income from day one while providing investors with a standout asset that differentiates itself from ordinary purpose-built triplexes. The combination of strong financial performance, irreplaceable character, and unbeatable location makes this a rare opportunity for the savvy investor looking to own a truly special multi-residential property in the heart of the city. (id:13139)
Property Details
| MLS® Number | X12894010 |
| Property Type | Multi-family |
| AmenitiesNearBy | Park, Public Transit, Hospital, Golf Nearby |
| CommunityFeatures | Community Centre |
| EquipmentType | Water Heater |
| Features | Carpet Free |
| ParkingSpaceTotal | 3 |
| RentalEquipmentType | Water Heater |
Building
| BathroomTotal | 6 |
| BedroomsAboveGround | 6 |
| BedroomsBelowGround | 1 |
| BedroomsTotal | 7 |
| Age | 100+ Years |
| Amenities | Fireplace(s), Separate Electricity Meters, Separate Heating Controls |
| Appliances | Water Heater, Water Softener, Dishwasher, Stove, Refrigerator |
| BasementFeatures | Apartment In Basement |
| BasementType | N/a |
| CoolingType | Central Air Conditioning |
| ExteriorFinish | Brick Facing, Brick |
| FireplacePresent | Yes |
| FireplaceTotal | 1 |
| FoundationType | Block |
| HalfBathTotal | 1 |
| HeatingFuel | Natural Gas, Other |
| HeatingType | Forced Air, Radiant Heat, Not Known |
| StoriesTotal | 3 |
| SizeInterior | 2500 - 3000 Sqft |
| Type | Triplex |
| UtilityWater | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| LandAmenities | Park, Public Transit, Hospital, Golf Nearby |
| Sewer | Sanitary Sewer |
| SizeDepth | 103 Ft ,2 In |
| SizeFrontage | 50 Ft ,9 In |
| SizeIrregular | 50.8 X 103.2 Ft |
| SizeTotalText | 50.8 X 103.2 Ft|under 1/2 Acre |
| ZoningDescription | Res-4 |
https://www.realtor.ca/real-estate/29483933/54-park-street-kitchener
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March 18 2026 03:30:56
Muskoka Haliburton Orillia – The Lakelands Association of REALTORS®
Trilliumwest Real Estate Brokerage