442 Macdonnell Street

Kingston, ONMulti-family
$2,375,000
MLS® X13778204
Multi-family12 beds12 baths3 total
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About This Property

Prime investment opportunity in Central Kingston! This solid, fully-brick 12-unit residential building features a turn-key mix of 6 one-bedroom units and 6 efficient bachelor units. Situated in a high-demand location with easy transit access to downtown amenities and post-secondary institutions. Strong Revenue Stream: Generating a solid $186600 in gross annual rent, plus extra income from the onsite coin-operated laundry and 3 dedicated outdoor parking spaces. Current Rent is 12% below market across the building, with room to improve. Low Owner Capital Expenditure: New roof replaced 2 years ago, offering low maintenance risk for years to come.Minimal Utility Costs: Each unit is individually metered for hydro, drastically keeping landlord utility expenses low. Key Features: Carpet-free building interior, exterior lighting, updated fire protection system, and select units with cozy gas fireplaces. An exceptionally stable, low-maintenance multi-family asset offering strong cash flow with reliable upside. CMHC Mortgage is transferable with certain conditions. The Loan loan term ends in 2029 (id:63604)

Key Facts

Type
Multi-family
Beds
12
Baths
12
Lot
33.9 x 67.4 FT
Parking
3 total

Highlights

  • Two stoves
  • Water Heater
  • Two Refrigerators
Property Details 11 details
Bedrooms
12 bedrooms
12 above grade
Bathrooms
12 bathrooms
Parking
3 parking spaces
No Garage
Living area
0 - 699 sq. ft.
Property
Multi-family
Property subtype
Multi-family
Structure type
Other
Heating
Baseboard heaters, Electric
Fireplace
No
Lot dimensions
33.9 x 67.4 FT
Frontage
33.10 feet
Taxes
$20,636.00 (2,025)
Water source
Municipal water
Sewer
Sanitary sewer

Interior features

Two stovesWater HeaterTwo Refrigerators

Exterior features

BrickConcrete
Mortgage & Affordability Estimate monthly costs
Mortgage Tools Buyer/Seller Snapshot
Purchase price$2,375,000
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
Central City East
City
Kingston
Postal code
K7L 4E4
Nearby
Princess St and MacDonnell
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