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    For Sale - 48 Stephen Street, Kingston, Ontario

    Est payment $11,405/mo
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    Views   3
    Time on Jump  78 day

    AI Summary *

    • Well-located 12-unit apartment building in a desirable district.
    • Current NOI of $106,803 with rent optimization potential.
    • Completed capital improvements ensure good overall building condition.
    • Inclusively rented with landlord-paid utilities for future expense savings.
    • On-site parking increases tenant appeal and stability.




    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.
    Listing IDX13228856
    Address48 Stephen Street
    CityKingston, Ontario
    Price$2,375,000
    StyleInvestment
    TypeIndustrial/Commercial
    StatusFor Sale

    Subtype InvestmentBasement 1Heating / Cooling Gas Hot WaterSewer Sanitary

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    Listing Agency:  RE/MAX RISE EXECUTIVES, BROKERAGE

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

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    48 Stephen Street
    Kingston , Ontario
    $2,375,000
    Get more info