Property Description
Attention Investors and Queen's University Parents! Beautifully kept cash-flowing legal non-conforming triplex in prime downtown Kingston location! Aggressively priced and fully rented with a 7.28% cap rate and immediate cash flow. Unit #1 (1BR): $1,600/month, Unit #3 (1BR): $1,600/month, Unit #2 (2BR): $1,900/month for a total gross income of $61,200 annually. Operating expenses are $12,440 (Taxes: $4,568, Insurance: $2,210, Utilities: $5,662) for an NOI of $48,760 with upside potential to $55,000+ through strategic rent increases. Each unit features in-suite laundry and dedicated parking-a rare combination that commands premium rents. The building is in excellent condition with extensive recent upgrades including plumbing, electrical, furnace, roof, windows, soffits, and eaves. High ceilings and exposed brick throughout make units highly attractive to tenants. This is a turnkey investment with quality tenants in place, low operating costs, and strong cash flow from day one. Perfect for first-time multi-family investors or experienced landlords looking for a solid performing asset in Kingston's strong rental market. Easy showings available-call, text, or email to book your viewing. (id:63357)
Property Details
- Property Type
- Multi-Unit
- Bedrooms
- 4
- Living Area
- 2,669 sqft
- Status
- Active
Location & Neighborhood
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