Randy Beck - at your Beck and call
randy@randybeck.ca
613.541.9221
him
MLS®: X13467366 Status: For sale

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RE/MAX Finest Realty, Brokerage - Kingston

Randy Beck
Sales Representative

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Telephone:
613.389.7777

Cellular:
613.541.9221


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$3,199,900
Location:

49-67 ADELAIDE STREET, Kingston (East of Sir John A. Blvd) Ontario, K7K1Y3
49-67 ADELAIDE STREET, Kingston (East of Sir John A. Blvd) Ontario
Description:
An excellent opportunity to acquire a 10 unit townhouse complex positioned on the outskirts of Downtown Kingston, offering strong income, functional layouts & long term investment appeal. The property is comprised of 10 attached townhouse units with a mix of 2 & 3 bedroom layouts, each featuring its own private walk-out basement, with 6 units also offering decks off the living room. Six of the ten units have been renovated, creating a strong blend of updated interiors with continued upside potential across the remaining units. The property is designed for efficient ownership, with all units separately metered, tenants paying their own utilities, & each unit equipped with its own forced air gas furnace & hot water tank. Additional highlights include a massive parking lot & a 12 ft x 27 ft storage shed. Based on the current rent roll & expenses, the property offers an approximate current Cap Rate of 5.24%, with a projected Cap Rate of approximately 5.37% based on scheduled 2026 rent increases. With townhouse-style units, tenant-paid utilities, individual mechanical systems, strong parking & close proximity to Downtown Kingston & public transit, this is a compelling income-producing property with excellent operational fundamentals. (id:2471)
Property:
Type: Multi-family
Lot Dimensions: 132 x 165 FTAcreage: 132 x 165 FT
Water: Municipal water
Structure:
Style: Multi-FamilySquare Footage: 8280 sqft
Bathrooms: 12
Heating: Forced air
Heating Type: Natural gas
Cooling Type: None
Features:
Irregular lot size     
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49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
49-67 ADELAIDE STREET, Kingston (East Of Sir John A. Blvd) Ontario
 
49-67 ADELAIDE STREET, Kingston (East of Sir John A. Blvd) Ontario

Listing Office: ROYAL LEPAGE PROALLIANCE REALTY, BROKERAGE

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