A medical device for dilating urethral strictures comprises a urethral catheter disposed inside a slidable sheath. The device includes a localizing balloon and one or more dilating balloons capable of expanding radially outward to mechanically expand the urethral stricture. In certain embodiments, the device is adjustable in order to position the location of the one or more dilating balloons of the device relative to the urethral stricture of a patient.