11-unit purpose-built multi-family building in downtown Kingston with intensification potential. A proposed 12th unit addition to the unused lower section is recommended with further planning consultation required. 330,000 lift potential with unit addition.
The property is in good condition with ample parking and common element. Cosmetic unit improvements are required to optimize rent roll on unit turnover.
A repositioning mortgage with a flip to MLI select mortgage is recommended.
11 Units
21 Bedrooms
11 Bathrooms
Downtown
Asking Price
$ 2,200,000
CAP rate
4.79%
Downpayment
40%
ARV
3.41 M
Lift
1.31 M
PROPERTY FEATURES
- Solid Brick Construction
- Potential for Additional Unit
- Located in a Pleasant Neighborhood with Consistent Population Growth
- Asphalt Driveway and Visitor Parking
- 12 Driveway Spaces
- Potential to add an additional unit
PROPERTY INFO
Beds 21
Bathrooms 11
Year Built 1950
Sq ft 10,000+
Storeys 3
ADDITIONAL INFORMATION
Listing Type Multi - Residential
Lot 0.240 Acres
Heating Gas, Hot Water-Other, Steam
Inclusions 11 fridges, 11 stoves, 2 washer, 2 dryer
MEET YOUR AGENTS
Jordan McGregor
REALTOR®
With over two decades in the real estate industry, I've dedicated my career to understanding and navigating the Kingston market. My name is Jordan McGregor, and I pride myself on my extensive knowledge in property investments. Throughout my time in Kingston, I've not only witnessed its incredible growth but have actively played a role in its real estate evolution. My commitment is to provide unparalleled expertise and insights, whether you're just starting out or are a seasoned investor. In Kingston's ever-changing property landscape, I'm here to guide you every step of the way.
Kateryna Topchii
REALTOR®
Hi, I'm Kateryna, your real estate guide. Originally from Ukraine, I've been in Kingston for over five years, combining my international background with a deep understanding of the local market.
With a Master's degree in economics and experience as a financial manager in property management, I offer personalized service tailored to your unique real estate needs. Whether you're seeking your dream home or an investment opportunity, I'm here to make it a smooth and successful journey. I'm not just a real estate agent, but a partner dedicated to turning your real estate dreams into reality.