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Key Details
Sold Price $1,400,000
Property Type Multi-Family
Sub Type Multi-6-9 Unit
Listing Status Sold
Purchase Type For Sale
Square Footage 4,230 sqft
Price per Sqft $330
MLS Listing ID 40617038
Sold Date 10/01/24
Bedrooms 11
Abv Grd Liv Area 4,230
Originating Board Kingston
Annual Tax Amount $13,758
Lot Size 7,710 Sqft
Acres 0.177
Property Description
Exceptional 7- Unit Investment Opportunity in the heart of Downtown Kingston, spanning both sides of the building. This is not your typical investment property. This place is Beautiful with high ceilings in most the units, balconies or patios off of 6 of the 7 units, and plenty of cosmetic updates making it very easy to rent. Lots of upside potential to increase rents as tenants turn over. All units separately metered. Including an approximate $10,000 in extra income potential that could be charged per year by renting the parking lot and 2 car garage out (built in 2013). Coin Laundry in the basement for tenants convenience as well as
storage lockers for each unit. You don’t see properties this nice with such great rental potential come up too often. Projected to operate at around $81,000 NOI after rental increases in January with a potential upside fair market value of $140,000 NOI in relatively short order with tenant turnover and should you choose to optimize with parking/garage income. Email, text or call agent for more information.
Location
Province ON
County Frontenac
Area Kingston
Zoning UR5
Direction QUEEN ST TO SYDENHAM ST
Rooms
Basement Walk-Up Access, Full, Unfinished
Kitchen 0
Interior
Interior Features Separate Hydro Meters
Heating Electric, Natural Gas, Radiator
Cooling Other
Fireplace No
Appliance Refrigerator, Stove
Laundry Coin Operated
Exterior
Exterior Feature Balcony, Landscaped
Garage Detached Garage, Exclusive, Gravel
Garage Spaces 2.0
Waterfront No
Roof Type Asphalt Shing
Porch Deck, Porch
Lot Frontage 48.5
Lot Depth 136.47
Parking Type Detached Garage, Exclusive, Gravel
Garage Yes
Building
Lot Description Irregular Lot, Hospital, Park, Playground Nearby, Public Transit, Rec./Community Centre, Schools
Faces QUEEN ST TO SYDENHAM ST
Story 3
Foundation Stone
Sewer Septic Tank
Water Municipal
Level or Stories 3
Structure Type Stone
New Construction No
Others
Senior Community false
Tax ID 360480114
Ownership Freehold/None
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