36
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$669,900
Est. payment /mo
4 Beds
3 Baths
New
341 Division ST Kingston, ON K7K 4A2
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Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1500-2000
Subdivision 22 - East Of Sir John A. Blvd
MLS Listing ID X12615750
Style 2-Storey
Bedrooms 4
Annual Tax Amount $4,568
Tax Year 2024
Property Sub-Type Triplex
Property Description
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.
Location
Province ON
County Frontenac
Area Frontenac
Rooms
Family Room No
Basement Unfinished
Kitchen 3
Interior
Interior Features None
Cooling None
Fireplace No
Heat Source Gas
Exterior
Parking Features Available, Private Double
Pool None
Waterfront Description None
Roof Type Asphalt Shingle
Lot Frontage 25.0
Lot Depth 100.0
Total Parking Spaces 5
Building
Foundation Stone
New Construction false
Others
ParcelsYN No
Listed by RE/MAX RISE EXECUTIVES, BROKERAGE
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