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48 STEPHEN STREET Kingston (east Of Sir John A. Blvd), ON K7K2C3
10,000 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 10,000 sqft
Price per Sqft $237
Subdivision 22 - East Of Sir John A. Blvd
MLS® Listing ID X12703412
Property 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:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Hot water radiator heat, Radiator
Cooling None
Exterior
Parking Features No
View Y/N No
Private Pool No
Building
Sewer Sanitary sewer
Listed by RE/MAX RISE EXECUTIVES, BROKERAGE
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