48 STEPHEN STREET, Kingston (East of Sir John A. Blvd), ON K7K2C3
22 - East of Sir John A. Blvd
Key Facts
Description
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:31684)
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Living Area
10,000 sq ft
Listing #
X13228856
Property Features
Cooling
Heating
Affordability Calculator
$475,000
Estimated monthly payment
$12,641/mo
Principal $1,900,000 · Est. interest $2,650,669 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Kingston, ON
- CA$636,254
- Median Listing Price
- 38
- Median Days on Market
- 1,300
- Median Sq Ft
- CA$461
- Median Price / Sq Ft
- 1,276
- Active Listings
- This home’s price is 273% above the area median.
- Its price per sq ft is 48% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Kingston, ON.
Location
Points of Interest in Kingston (East of Sir John A. Blvd), ON
Showing the Kingston (East of Sir John A. Blvd) area map.
Nearby Schools
Regiopolis Notre Dame Catholic High School
Secondary · 0.3 km away
Mulberry Waldorf School
School · 0.5 km away
Something Special Children's Centre
School · 0.9 km away
First Avenue Public School
School · 1.0 km away
King's Town School
School · 1.0 km away
Central Public School
School · 1.0 km away
Ecole Catholique Cathedral
Elementary · 1.3 km away
Trillium College
Secondary School · 1.4 km away
Rideau Public School
Elementary · 1.4 km away
Sydenham Public School
School · 1.5 km away
Corner Clubhouse Daycare
School · 1.5 km away
Frontenac County Childcare F C C C Q E C V I
School · 1.6 km away
Molly Brant Elementary School
Elementary · 1.6 km away
Winston Churchill Public School
School · 1.8 km away
John Graves Simcoe Public School
School · 1.9 km away
The Residence Society of Queen's University
School · 2.0 km away
Calvin Park Public School
Secondary · 2.5 km away
Loyalist Collegiate Vocational Inst
Secondary · 2.5 km away
Rideau Heights Public School
School · 2.6 km away
Lord Strathcona Public School
Elementary · 2.8 km away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 931 MALVERN TERRACE, Kingston (North of Taylor-Kidd Blvd), ON | CA$1,670,000 | 4 | 4 | — |
| 4781 CRYSTAL ROSE DRIVE, Mississauga (East Credit), ON | CA$1,670,000 | 8 | 7 | — |
| 931 Malvern Terrace, Kingston, ON | CA$1,670,000 | 4 | 4 | — |
| 65 CRAIGMORE CRESCENT, Toronto (Willowdale East), ON | CA$1,670,000 | 4 | 3 | — |
| LOT 9 & 10 CONCESSION 5 N/A, Lake of Bays, ON | CA$1,675,000 | — | — | — |
| 5 VALLEYGREEN CRESCENT S, Caledon (Caledon East), ON | CA$1,675,000 | 5 | 4 | — |
Moving Cost Estimate
EXIT Agents in Kingston (East of Sir John A. Blvd)
Listing Courtesy: RE/MAX RISE EXECUTIVES, BROKERAGE
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