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
Location
Map is currently unavailable for this location.
Points of Interest in Kingston (East of Sir John A. Blvd), ON
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Nearby Homes
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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 | — |
| 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, Lake of Bays (Mclean), ON | CA$1,675,000 | — | — | — |
| 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 | — |
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EXIT Agents in Kingston (East of Sir John A. Blvd)
Listing Courtesy: RE/MAX RISE EXECUTIVES, BROKERAGE
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