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Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Subdivision 14 - Central City East
MLS Listing ID X13222478
Annual Tax Amount $46,580
Tax Year 2025
Property Sub-Type Investment
Property Description
Purpose-built 21-unit apartment building in Kingston offering a rare combination of scale, condition, and long-term stability in a strong rental market. Situated on a 15,360 square foot lot, the building comprises sixteen 2-bedroom units and five 1-bedroom units with stable tenancy and consistent occupancy history. Constructed in 1962 with concrete construction and attractive brick exterior, the property features an elevator servicing all four floors, terrazzo common areas, hardwood parquet flooring within units, updated entry/security system, newer roof, and recently constructed balconies. Three units have been freshly renovated, providing immediate upside and demonstrating strong rental appeal. Tenants enjoy individual air conditioning units, dedicated outdoor parking, common coin-operated laundry facilities, and individual storage lockers. Hydro is separately metered to tenants, while the building operates with efficient common gas-fired hot water heating. Current gross annual revenue for 2025 is approximately $326,000 with estimated rental upside of approximately 23% to current market levels, offering meaningful long-term income growth potential for investors. Pride of ownership is evident throughout this clean, professionally maintained asset. Excellent opportunity for investors seeking a stable multi-residential holding with strong in-place income and long-term upside in one of Eastern Ontario's most resilient rental markets. Offered at $4,450,000.
Location
Province ON
County Frontenac
Area Frontenac
Zoning B3 Multi-residential
Interior
Cooling Partial
Inclusions All existing appliances belonging to the Seller. Two coin op washers/dryers
Exterior
Utilities Available Yes
Lot Frontage 100.0
Lot Depth 152.6
Building
Building Age 51-99
Others
Security Features No
ParcelsYN No
Listed by ROGERS & TRAINOR COMMERCIAL REALTY INC., BROKERAGE
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