Property Details
48 STEPHEN STREET, Kingston (east Of Sir John A. Blvd), Ontario, K7K2C3
$2,375,000 - For sale
Well-located 12-unit apartment building in Kingston's highly sought-after Inner Harbour District. The property generates a current NOI of $106,803 and is approximately 21% under-rented across the building, offering immediate and measurable upside through rent optimization. The building is in good overall condition, with several capital improvements already completed. Rents are inclusive, with landlord-paid utilities, creating potential for future expense optimization. On-site parking enhances tenant appeal and long-term stability. This asset qualifies for CMHC MLI-Select-style financing, making it an attractive opportunity for investors seeking leverage, income growth, and a strong downtown location with limited multi-residential supply. Full financials, rent roll, and supporting documentation are available in the data room. Serious buyers are encouraged to review the materials to fully understand the income upside and financing potential. (id:2471)
Location DescriptionCross Streets: Stephen St and Montreal St. ** Directions: Montreal or Division St to Stephen St.
- Property Address:48 STEPHEN STREET, Kingston (east Of Sir John A. Blvd), Ontario, K7K2C3
- Property Type:Multi-family
- Community Name:22 - East of Sir John A. Blvd
- Lot Size:57.72 x 141.18 FT
- Sewage Type:Sanitary sewer
- Water Type:Municipal water
- Structure Style:Multi-Family
- Floor Space:10000 sqft
- Heating Type:Natural gas, Hot water radiator heat, Radiator
- Cooling Type:None
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- Map 48 STEPHEN STREET, Kingston (east Of Sir John A. Blvd), Ontario, K7K2C3
- Neighbourhood Information
48 STEPHEN STREET, Kingston (east Of Sir John A. Blvd), Ontario, K7K2C3
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