442 Macdonnell Street Kingston, Ontario K7L 4E4

$2,375,000

Prime investment opportunity in Central Kingston! This solid, fully-brick 12-unit residential building features a turn-key mix of 7 one-bedroom units and 5 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 $182,600 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. Financial statements and rent roll available upon request. (id:55460)

Property Details

MLS® Number	X13778204
Property Type	Multi-family
Community Name	14 - Central City East
Parking Space Total	3

Building

Bathroom Total	12
Bedrooms Above Ground	12
Bedrooms Total	12
Appliances	Water Heater, Two Stoves, Two Refrigerators
Basement Type	None
Exterior Finish	Brick
Foundation Type	Concrete
Heating Fuel	Electric
Heating Type	Baseboard Heaters
Size Interior	0 - 699 Ft2
Type	Other
Utility Water	Municipal Water

Parking

No Garage

Land

Acreage	No
Sewer	Sanitary Sewer
Size Depth	67 Ft ,4 In
Size Frontage	33 Ft ,10 In
Size Irregular	33.9 X 67.4 Ft
Size Total Text	33.9 X 67.4 Ft

https://www.realtor.ca/real-estate/30272604/442-macdonnell-street-kingston-central-city-east-14-central-city-east