54 PARK Street

About this home.

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:59491)

The full record.

How this listing prices against Downtown Kitchener/W. Ward.

Downtown Kitchener/W. Ward saw 4 sales and 73 active listings, so inventory is far outpacing recent closings. The average sale price was $662,250, below the city average, while homes took 28 days to sell and closed at 96.89 percent of list, close to city norms on price but slower on volume. This is a condo-heavy market where supply is the defining feature right now. Buyers have substantial selection, especially in apartment units.

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