49-67 Adelaide Street,Kingston (East of Sir John A. Bl, ON K7K1Y3
Kingston (East of Sir John A. Bl, ON K7K1Y3
Description
An excellent opportunity to acquire a 10 unit townhouse complex positioned on the outskirts of Downtown Kingston, offering strong income, functional layouts & long term investment appeal. The property is comprised of 10 attached townhouse units with a mix of 2 & 3 bedroom layouts, each featuring its own private walk-out basement, with 6 units also offering decks off the living room. Six of the ten units have been renovated, creating a strong blend of updated interiors with continued upside potential across the remaining units. The property is designed for efficient ownership, with all units separately metered, tenants paying their own utilities, & each unit equipped with its own forced air gas furnace & hot water tank. Additional highlights include a massive parking lot & a 12 ft x 27 ft storage shed. Based on the current rent roll & expenses, the property offers an approximate current Cap Rate of 5.24%, with a projected Cap Rate of approximately 5.37% based on scheduled 2026 rent increases. With townhouse-style units, tenant-paid utilities, individual mechanical systems, strong parking & close proximity to Downtown Kingston & public transit, this is a compelling income-producing property with excellent operational fundamentals. (id:13843)
Details
| MLS # | X13813188 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 45 |
| Listing Provided By | ROYAL LEPAGE PROALLIANCE REALTY, BROKERAGE | KRISHAN NATHAN |
Features
| Bath(s) | 12 Total |
|---|---|
| SQ Feet | 8,280 |
| Zoning | UR5 |
Interior
| Cooling | None |
|---|---|
| Heating | Forced air, Natural gas |
| Appliances | Washer, Dryer |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Irregular lot size |
|---|
Utilities
| Sewer | Sanitary sewer |
|---|---|
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 20682.72 |
|---|
Area Information
| Province | ON |
|---|---|
| City | Kingston (East of Sir John A. Bl |
| Postal Code | K7K1Y3 |
| Listing VS Median (in K7K1Y3) | |
Price: $3,149,900 low | high Med: $3,149,900 sqft: 8,280 low | high Med: 8,280 $ / sqft: $380 low | high Med: $380 On site: 45 low | high Med: 45 | |
Request a showing
Request a showing
Contact
Learn More About This Property
| Province | ON |
|---|---|
| City | Kingston (East of Sir John A. Bl |
| Postal Code | K7K1Y3 |
| Listing VS Median (in K7K1Y3) | |
Price: $3,149,900 low | high Med: $3,149,900 sqft: 8,280 low | high Med: 8,280 $ / sqft: $380 low | high Med: $380 On site: 45 low | high Med: 45 | |
