Attention Investors and Queen's University Parents! Beautifully kept cash-flowing legal non-conforming triplex in prime downtown Kingston location! Aggressively priced and fully rented with a 7.28% cap rate and immediate cash flow. Unit #1 (1BR): $1,600/month, Unit #3 (1BR): $1,600/month, Unit #2 (2BR): $1,900/month for a total gross income of $61,200 annually. Operating expenses are $12,440 (Taxes: $4,568, Insurance: $2,210, Utilities: $5,662) for an NOI of $48,760 with upside potential to $55,000+ through strategic rent increases. Each unit features in-suite laundry and dedicated parking-a rare combination that commands premium rents. The building is in excellent condition with extensive recent upgrades including plumbing, electrical, furnace, roof, windows, soffits, and eaves. High ceilings and exposed brick throughout make units highly attractive to tenants. This is a turnkey investment with quality tenants in place, low operating costs, and strong cash flow from day one. Perfect for first-time multi-family investors or experienced landlords looking for a solid performing asset in Kingston's strong rental market. Easy showings available-call, text, or email to book your viewing. (id:4069)
Address
341 DIVISION STREET
List Price
$669,900
Property Type
Multi-family
Type of Dwelling
Triplex
Transaction Type
Sale
Area
Ontario
Sub-Area
Kingston (east Of Sir John A Blvd)
Bedrooms
4
Bathrooms
3
Floor Area
1500 - 2000 Sq. Ft.
Lot Size
25 x 100 FT Sq. Ft.
MLS® Number
X12615750
Listing Brokerage
RE/MAX RISE EXECUTIVES, BROKERAGE
Basement Area
N/A (Unfinished)
Postal Code
K7K4A2
Zoning
A
