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Commercial listings / Investment / For sale

442 Macdonnell Street, Kingston, ON K7L 4E4

$2,375,000

442 Macdonnell Street, Kingston, ON K7L 4E4, photo 1442 Macdonnell Street, Kingston, ON K7L 4E4, photo 2442 Macdonnell Street, Kingston, ON K7L 4E4, photo 3442 Macdonnell Street, Kingston, ON K7L 4E4, photo 4442 Macdonnell Street, Kingston, ON K7L 4E4, photo 5442 Macdonnell Street, Kingston, ON K7L 4E4, photo 6
Property type
Investment
Transaction
For sale
Location
Kingston, Frontenac
Building area
1,884 Square Feet
MLS® number
X13778214

Description

Prime investment opportunity in Central Kingston! This solid, fully-brick 12-unit residential building features a turn-key mix of 6 one-bedroom units and 6 efficient bachelor units. Situated in a high-demand location with easy transit access to downtown amenities and post-secondary institutions. Strong Revenue Stream: Generating a solid $186600 in gross annual rent, plus extra income from the onsite coin-operated laundry and 3 dedicated outdoor parking spaces. Current Rent is 12% below market across the building, with room to improve. Low Owner Capital Expenditure: New roof replaced 2 years ago, offering low maintenance risk for years to come.Minimal Utility Costs: Each unit is individually metered for hydro, drastically keeping landlord utility expenses low. Key Features: Carpet-free building interior, exterior lighting, updated fire protection system, and select units with cozy gas fireplaces. An exceptionally stable, low-maintenance multi-family asset offering strong cash flow with reliable upside. CMHC Mortgage is transferable with certain conditions. The Loan loan term ends in 2029

Listing brokerage: CENTURY 21 LANDUNION REALTY INC.

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