442 MACDONNELL STREET
Kingston (Central City East), Ontario
MLS® X13778204
$2,375,000
- Status
- Active
- Property type
- Multi-family
- MLS® number
- X13778204
- Bedrooms
- 12
- Bathrooms
- 12
- Year built
- —
1 / 41Listing description
Prime investment opportunity in Central Kingston! This solid, fully-brick 12-unit residential building features a turn-key mix of 7 one-bedroom units and 5 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 $182,600 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.
Property summary
- MLS® number
- X13778204
- Property type
- Multi-family
- Building type
- Other
- Land size
- 33.9 x 67.4 FT
- Annual property taxes
- $20,636.00
- Parking
- 3 spaces · No Garage
- Days on market
- 3 days
Features & details
- Heating
- Baseboard heaters, Electric
- Basement
- None
- Appliances
- Two stoves, Water Heater, Two Refrigerators
- Exterior features
- Brick
What would this home cost you?
Based on the $2,375,000 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of CENTURY 21 LANDUNION REALTY INC., MARKHAM.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.