54 Park Street, Kitchener, ON N2G 1M3
Kitchener, ON, N2G 1M3
About this property
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.
Features & Amenities
- Basement: Apartment
- Garage: None
- Cooling: Central Air
- Heat Type: Forced Air
- Heat Source: Gas
- Style: 2 1/2 Storey
- Construction: Brick Front, Brick
- Sewer: Sewer
Property Details
| Property Type | Residential Freehold |
|---|---|
| Property Sub-Type | Triplex |
| Architectural Style | 2 1/2 Storey |
| Bedrooms | 7 |
| Bathrooms | 6 |
| Lot Size | 5,167 Feet |
| Basement | Apartment |
| Garage | None |
| Parking Spaces | 3 |
| Heat Type | Forced Air |
| Heat Source | Gas |
| Cooling | Central Air |
| Sewer | Sewer |
| Annual Tax | $8,479 |
| Tax Year | 2025 |
Interior Features
- Interior Features
- Carpet Free, Primary Bedroom - Main Floor, Separate Hydro Meter, Separate Heating Controls, Storage, Water Heater, Water Softener
- Fireplace
- Yes
- Fireplace Features
- Natural Gas
Exterior Features
- Pool Features
- None
Building & Construction
- Architectural Style
- 2 1/2 Storey
- Construction Materials
- Brick Front, Brick
- Foundation Details
- Concrete Block
- Roof
- Asphalt Shingle
- Basement
- Apartment
- Approximate Age
- 100+
Heating & Cooling
- Heat Type
- Forced Air
- Heat Source
- Gas
- Cooling
- Central Air
Parking & Garage
- Garage Type
- None
- Parking Spaces
- 3
- Parking Total
- 3.00
- Covered Spaces
- 0
Lot & Land
- Lot Size Area
- 5166.67
- Lot Size Units
- Feet
- Lot Depth
- 103.17
- Lot Width
- 50.80
Community & Neighborhood
- Property Features
- Park, Public Transit, Hospital, Library, Rec./Commun.Centre, Golf
Financial & Tax
- Tax Annual Amount
- $8,479
- Tax Year
- 2025
- Tax Assessed Value
- $625,000
- Possession Type
- Flexible
- Possession Details
- Flexible
Utilities & Services
- Sewer
- Sewer
Room Details
- Rooms Above Grade
- 17
- Kitchens Above Grade
- 3
- Kitchens Total
- 4
- Bedrooms Above Grade
- 6
- Bedrooms Below Grade
- 1
Additional Details
- Occupant Type
- Tenant
- Direction Faces
- North
- County Or Parish
- Waterloo
- Cross Street
- Victoria St.
- Directions
- Victoria St. to Park St
- Special Designation
- Heritage
- Showing Requirements
- Showing System
Location
54 Park Street, Kitchener, ON N2G 1M3, Kitchener, ON, N2G 1M3