48 STEPHEN STREET
Kingston (East of Sir John A. Blvd), Ontario
MLS® X13228856
$2,375,000
- Status
- Active
- Property type
- Multi-family
- MLS® number
- X13228856
- Bedrooms
- —
- Bathrooms
- —
- Year built
- —
1 / 11Listing description
Well-located 12-unit apartment building in Kingston's highly sought-after Inner Harbour District. The property generates a current NOI of $106,803 and is approximately 21% under-rented across the building, offering immediate and measurable upside through rent optimization. The building is in good overall condition, with several capital improvements already completed.
Rents are inclusive, with landlord-paid utilities, creating potential for future expense optimization. On-site parking enhances tenant appeal and long-term stability. This asset qualifies for CMHC MLI-Select-style financing, making it an attractive opportunity for investors seeking leverage, income growth, and a strong downtown location with limited multi-residential supply.
Full financials, rent roll, and supporting documentation are available in the data room. Serious buyers are encouraged to review the materials to fully understand the income upside and financing potential.
Property summary
- MLS® number
- X13228856
- Property type
- Multi-family
- Building type
- Multi-Family
- Square footage
- 10,000 sq ft
- Land size
- 57.72 x 141.18 FT
- Annual property taxes
- $24,831.39
- Days on market
- 93 days
Features & details
- Heating
- Hot water radiator heat, Natural gas, Radiator
- Cooling
- None
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 RE/MAX RISE EXECUTIVES, BROKERAGE, KINGSTON.
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.