$1,600,000
Available - For Sale
Listing ID: X11898996
79-81 Queen St , Kingston, K7K 1A5, Ontario
| Welcome to 79-81 Queen Street, a historic gem in the heart of downtown Kingston. Built in 1840, this stately limestone building combines timeless charm with modern amenities, making it a standout investment opportunity. The property features limestone construction with exposed brick interiors that exude character and tenants love. Located in Kingston's vibrant downtown core, it has so many amenities within easy walking distance including the waterfront, Queens University, Kingston General Hospital, and an incredible number of shops, restaurants, and cultural attractions. This turnkey investment offers four residential units, all separately metered to ensure low operating costs. Each unit includes appliances, with two featuring dishwashers and one equipped with laundry as well. The property has a history of being fully rented with no vacancies, highlighting its strong rental demand. Additionally, 10 coveted parking spots generate an extra $1,000 per month. There is also room for expansion on the large lot, offering opportunities to add to this property. With easy cosmetic renovations, the units themselves have significant potential for increased revenue, adding even more value to this already attractive investment. Current rents include Unit 79-1 $1,400/month (Oct 2024 - Sep 2025), Unit 79-2 $1,800/month (May 2024 - Apr 2025), Unit 81-1 $1,691/month (month-to-month), and Unit 81-2 $1,800/month (Jul 2024 - Jun 2025). Combined with the parking income, the property currently has a gross annual income of $92,292 and a net operating income of $67,561. With its unbeatable location, solid income stream, and historic charm, 79-81 Queen Street offers a rare opportunity to own a piece of Kingston's heritage while enjoying a lucrative, low-maintenance investment. |
| Price | $1,600,000 |
| Taxes: | $6366.78 |
| Tax Type: | Annual |
| Occupancy by: | Tenant |
| Address: | 79-81 Queen St , Kingston, K7K 1A5, Ontario |
| Postal Code: | K7K 1A5 |
| Province/State: | Ontario |
| Legal Description: | PT LT 195 ORIGINAL SURVEY KINGSTON CITY |
| Lot Size: | 34.00 x 132.00 (Feet) |
| Directions/Cross Streets: | One street north of Princess, East of Division. 79-81 Queen is just West of Wellington on the North |
| Category: | Apartment |
| Use: | Apts-2 To 5 Units |
| Building Percentage: | Y |
| Total Area: | 3170.00 |
| Total Area Code: | Sq Ft |
| Approximatly Age: | 100+ |
| Financial Statement: | Y |
| Chattels: | Y |
| Heat Type: | Baseboard |
| Central Air Conditioning: | N |
| Sewers: | Sanitary |
| Water: | Municipal |
$
%
Years
This calculator is for demonstration purposes only. Always consult a professional
financial advisor before making personal financial decisions.
| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| RE/MAX FINEST REALTY INC., BROKERAGE |
|
|
Antonella Monte
Broker
Dir:
647-282-4848
Bus:
647-282-4848
| Virtual Tour | Book Showing | Email a Friend |
Jump To:
At a Glance:
| Type: | Com - Investment |
| Area: | Frontenac |
| Municipality: | Kingston |
| Neighbourhood: | East of Sir John A. Blvd |
| Lot Size: | 34.00 x 132.00(Feet) |
| Approximate Age: | 100+ |
| Tax: | $6,366.78 |
Locatin Map:
Payment Calculator:
