233 LANCASTER Street
Kitchener, Ontario
5 bed • 3 bath • Multi-family
Wow! An incredible opportunity to own a versatile triplex in the heart of Kitchener, with over 1,800 sqft of thoughtfully designed living space across 3 self-contained units, ideal for investors or multi-generational living at an attainable price point. Step inside and experience a property that balances functionality with character. The main level hosts 2 ground-floor units, perfect for ease of access: a bright 2-bedroom suite featuring updated luxury vinyl plank flooring and eye-catching exposed brick accents in the bedroom/kitchen, alongside a well-appointed 1-bedroom unit with warm hardwood floors, a spacious dual closet, and a private rear entry off the parking area. Upstairs, the 3rd unit offers a light-filled 2-bed layout with open-concept kitchen/living/dining space, updated flooring, and charming sloped ceilings adding architectural interest, complemented by views of mature trees. Each unit is finished in neutral tones and includes its own 4-pc bathroom, creating comfortable, independent living spaces. The partially finished basement adds more flexibility, complete with a 3-pc bath and expansive storage—offering endless potential for additional use or future value. Outside, a newly fenced yard and parking for 4+ vehicles enhance both convenience and appeal. Set in the historic Central Frederick neighbourhood, this location delivers the best of urban living with a strong sense of community. Enjoy being just minutes from downtown Kitchener, with easy access to local favourites like Centre In The Square, the vibrant Kitchener Market, and the Kitchener Memorial Auditorium. Everyday essentials, parks, and transit are all within reach, while nearby schools—including St. Anne’s, Suddaby Public School, and Cameron Heights Collegiate Institute—add to the area’s practicality. This is a neighbourhood known for its character, walkability, and connectivity—making it a compelling choice for tenants and homeowners alike, and a smart addition to any real estate portfolio.
Price History
Schools
Elementary
- Suddaby Public School0.3 km
Public · Waterloo Region DSB · 505 students
Grade 3 reading: 67% met the provincial standard · Grade 6 math: 58% met the provincial standard
- Courtland Avenue Public School0.9 km
Public · Waterloo Region DSB · 270 students
- Sheppard Public School0.9 km
Public · Waterloo Region DSB · 365 students
Grade 3 reading: 82% met the provincial standard · Grade 6 math: 60% met the provincial standard
Secondary
- Cameron Heights Collegiate Institute0.5 km
Public · Waterloo Region DSB · 1765 students
Grade 10 literacy: 90% met the provincial standard
- Eastwood Collegiate Institute2 km
Public · Waterloo Region DSB · 1270 students
Grade 10 literacy: 84% met the provincial standard
- Kitchener Waterloo Collegiate and Vocational School2.3 km
Public · Waterloo Region DSB · 1650 students
Grade 10 literacy: 88% 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 N2H
- Population
- 22,456
- Private dwellings
- 11,453
- Median age
- 38.4
- Average household size
- 2.1
- Median household income
- $73,500
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
- 1,928
- Median days on market
- 20
- Sale-to-list price
- 101.0%
Based on 1,928 recorded sales of multi-family properties in Kitchener over the last 12 months.
Location
Mortgage Calculator
$110,000
Estimated Monthly Payment
$2,702
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $2,702/mo (20% down, 5.5%)
Taxes: $0/mo · Insurance: $138/mo
Estimates only. Consult a financial advisor.
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