Property Information:
Well-located corner 5-plex in central Kingston offering reliable rental income with clear upside potential. Currently generating roughly $84,000 annually including laundry and parking income, with an estimated NOI around $64,000, representing a sub-5% cap rate (approximate). The property features five similar 2-bedroom units, each with a 4-piece bath, with three already updated and two offering future upside through improvements and rent growth. Situated on a corner lot with plenty of on-site parking, adding convenience for tenants and additional income potential. The building is well set up with separately metered hydro, 400 amp service, updated windows, radiant on-demand heating, owned hot water systems, and a roof replaced in 2015. Close to Queen's University and St. Lawrence College, with easy access to transit and everyday amenities, supporting consistent rental demand and long-term growth. (id:27)
Building Features:
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Style:
Multiplex
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Building Type:
Other
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Amenities:
Separate Hydro Meters
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Basement Type:
N/A
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Exterior Finish:
Brick
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Floor Space:
2500 - 3000 sqft
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Foundation Type:
Block
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Heating Type:
Radiant heat
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Heating Fuel:
Natural gas
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Cooling Type:
None
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Appliances:
