54 PARK Street
Kitchener, Ontario
6 bed • 6 bath • Multi-family
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.
Price History
Property
- Lot Size
- 0.12 acres
Schools
Elementary
- St John Catholic Elementary School0.6 km
Catholic · Waterloo CDSB · 460 students
Grade 3 reading: 44% met the provincial standard · Grade 6 math: 43% met the provincial standard
- King Edward Public School0.8 km
Public · Waterloo Region DSB · 380 students
Grade 3 reading: 55% met the provincial standard · Grade 6 math: 30% met the provincial standard
- J F Carmichael Public School0.9 km
Public · Waterloo Region DSB · 485 students
Grade 3 reading: 72% met the provincial standard · Grade 6 math: 33% met the provincial standard
Secondary
- Kitchener Waterloo Collegiate and Vocational School1 km
Public · Waterloo Region DSB · 1650 students
Grade 10 literacy: 88% met the provincial standard
- Cameron Heights Collegiate Institute1.7 km
Public · Waterloo Region DSB · 1765 students
Grade 10 literacy: 90% met the provincial standard
- Forest Heights Collegiate Institute3 km
Public · Waterloo Region DSB · 1555 students
Grade 10 literacy: 86% met the provincial standard
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
Community
Postal area N2G
- Population
- 14,580
- Private dwellings
- 8,284
- Median age
- 38
- Average household size
- 1.8
- Median household income
- $62,400
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Multi-family in Kitchener · last 12 months
- Median sold price
- $665,000
- Homes sold
- 1,927
- Median days on market
- 20
- Sale-to-list price
- 101.0%
Based on 1,927 recorded sales of multi-family properties in Kitchener over the last 12 months.
Location
Mortgage Calculator
$230,000
Estimated Monthly Payment
$5,650
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $5,650/mo (20% down, 5.5%)
Taxes: $0/mo · Insurance: $288/mo
Estimates only. Consult a financial advisor.
Reita | Assistant
Online
Reita is an automated assistant, not a licensed real estate agent. I can help you explore neighbourhoods, understand the market, and find our free tools. What are you looking for?