March 25, 2024
- 10 min read
54 Park Street Kitchener, Ontario N2G 1M3
$1,150,000
7 Bedroom
6 Bathroom
2,500 - 3,000 ft2
Fireplace
Central Air Conditioning
Forced Air, Radiant Heat, Not Known
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:36109)
Property Details
| MLS® Number | X12894010 |
| Property Type | Multi-family |
| Amenities Near By | Park, Public Transit, Hospital, Golf Nearby |
| Community Features | Community Centre |
| Equipment Type | Water Heater |
| Features | Carpet Free |
| Parking Space Total | 3 |
| Rental Equipment Type | Water Heater |
Building
| Bathroom Total | 6 |
| Bedrooms Above Ground | 6 |
| Bedrooms Below Ground | 1 |
| Bedrooms Total | 7 |
| Age | 100+ Years |
| Amenities | Fireplace(s), Separate Electricity Meters, Separate Heating Controls |
| Appliances | Water Heater, Water Softener, Dishwasher, Stove, Refrigerator |
| Basement Features | Apartment In Basement |
| Basement Type | N/a |
| Cooling Type | Central Air Conditioning |
| Exterior Finish | Brick Facing, Brick |
| Fireplace Present | Yes |
| Fireplace Total | 1 |
| Foundation Type | Block |
| Half Bath Total | 1 |
| Heating Fuel | Natural Gas, Other |
| Heating Type | Forced Air, Radiant Heat, Not Known |
| Stories Total | 3 |
| Size Interior | 2,500 - 3,000 Ft2 |
| Type | Triplex |
| Utility Water | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| Land Amenities | Park, Public Transit, Hospital, Golf Nearby |
| Sewer | Sanitary Sewer |
| Size Depth | 103 Ft ,2 In |
| Size Frontage | 50 Ft ,9 In |
| Size Irregular | 50.8 X 103.2 Ft |
| Size Total Text | 50.8 X 103.2 Ft|under 1/2 Acre |
| Zoning Description | Res-4 |
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54 Park Street
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March 18 2026 03:30:56
