138 Chatham Street

Kingston, ONMulti-family
$775,000
MLS® X13679136
Multi-family6 beds3 baths2 total
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About This Property

Excellent investment opportunity in the heart of Kingston, approximately a 15-minute walk from Queen's University and close to major bus routes. Located just north of Princess Street, this detached 6-bedroom duplex is a strong addition to any investment portfolio. The main unit offers 5 bedrooms across two levels, 2 full bathrooms, a spacious living room, and a large eat-in kitchen with updated flooring. A major bonus is the additional bachelor apartment, providing an extra income stream. Both units are separately metered and share access to on-site laundry. 2 parking spots are available to rent for additional income too. Generating $66,000 in gross annual income, this property offers an impressive cap rate of over 7.5%. Major updates include a roof replacement in 2023 and vinyl windows throughout. A proven income generator with strong rental demand, the property is currently leased until April 30th, 2027. The bachelor apartment is currently rented below market value, presenting excellent future upside potential. (id:63604)

Key Facts

Type
Multi-family
Beds
6
Baths
3
Size
1,500 sqft
Lot
51 x 70.3 FT
Parking
2 total

Highlights

  • Washer
  • Refrigerator
  • Stove
  • Dryer
  • Water Heater
Property Details 17 details
Bedrooms
6 bedrooms
6 above grade
Bathrooms
3 bathrooms
Parking
2 parking spaces
No Garage
Living area
1,500 - 2,000 sq. ft.
Property
Multi-family · Attached
Property subtype
Multi-family
Structure type
Duplex
Attached status
Attached
Storeys
2
Basement
Unfinished, Full
Heating
Forced air, Natural gas
Fireplace
No
Lot dimensions
51 x 70.3 FT
Frontage
51 feet
Taxes
$4,935.00
Zoning
UR5
Water source
Municipal water
Sewer
Sanitary sewer

Interior features

WasherRefrigeratorStoveDryerWater HeaterSeparate Electricity Meters

Exterior features

Vinyl sidingConcreteFenced yard

Systems and association

SewerElectricityCable

Lot and water

Irregular lot size
Rooms 14 rooms
Level
Room
Dimensions
Main level
Living room
3.41 m x 6.46 m
Second level
Bathroom
3.13 m x 1.5 m
Upper Level
Bedroom
4.69 m x 4.05 m
Upper Level
Kitchen
3.11 m x 3.21 m
Upper Level
Bathroom
2.81 m x 1.14 m
Main level
Kitchen
5.08 m x 2.83 m
Main level
Dining room
4.45 m x 1.8 m
Main level
Bedroom
3.45 m x 3.92 m
Main level
Bedroom
3.44 m x 2.37 m
Main level
Bathroom
1.65 m x 2.64 m
Main level
Laundry room
1.9 m x 1.69 m
Second level
Bedroom
3.52 m x 5.61 m
Second level
Bedroom
3.53 m x 3.02 m
Second level
Bedroom
3.1 m x 2.83 m
Mortgage & Affordability Estimate monthly costs
Purchase price$775,000
Down paymentNot available
Mortgage amountNot available
Principal & interestNot available
Property taxesNot available
Condo/HOA feeNot available
Insurance/OtherNot available
UtilitiesNot available
Est. monthly totalNot available
Income needed (GDS 32%)Not available
Estimates only. Not financial advice. Rates, taxes and fees vary by lender and municipality.

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Neighbourhood

Area
East of Sir John A. Blvd
City
Kingston
Postal code
K7K 4H4
Nearby
Cross Streets: Pine & Hamilton. ** Directions: Princess St to Alfred St to Pine St to Chatham St.