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Tony & Ledi Real Estate Team

info@tonyledi.com +1(647) 493-3579

$ 579,000

Est. payment | -/mo

5 Beds

2 Baths

1,100 SqFt

Save

$ 579,000

Est. payment | -/mo

Save

5 Beds

2 Baths

1,100 SqFt

Key Details

Property Type Single Family Home

Sub Type Freehold

Listing Status Active

Purchase Type For Sale

Approx. Sqft 1100 - 1500

Square Footage 1,100 sqft

Price per Sqft $526

Subdivision 22 - East Of Sir John A. Blvd

MLS® Listing ID X13419790

Bedrooms 5

Property Sub-Type Freehold

Property Description

6.6% Net Cap Rate with Additional Income Upside. An exceptional turnkey investment opportunity with $43,200 in annual gross rental income and a 6.6% net cap rate, with further potential to increase revenue.The property is currently rented as a 4-bedroom student rental at $3,600 per month plus utilities, with a lease in place until the end of April 2027 with the high possibility of these tenants renewing their leases. .Located within walking distance of downtown Kingston and Queen's University, this property benefits from a highly desirable location and consistent demand for student housing. The property has been well maintained and consistently occupied, offering investors immediate income while providing clear upside potential. With the existing four-bedroom configuration generating a 6.6% net cap rate, the opportunity to add rental income through the currently unused bedroom, potential dining-room conversion, and parking space creates the potential for an even stronger return over time.There is meaningful opportunity to increase the property's income beyond the current $43,200 annual rent. The home includes a fifth, smaller bedroom on the second floor that is not currently being rented, along with the potential to convert the existing dining room into an additional bedroom. There is also one dedicated parking space that could potentially be monetized separately. These opportunities provide investors with several avenues to enhance future rental income with relatively modest improvements. (id:24570)

Location

Province ON

Rooms

Kitchen 1.0

Extra Room 1 Second level 3.14 m X 2.34 m Bedroom 2

Extra Room 2 Second level 2.67 m X 3.25 m Bedroom 3

Extra Room 3 Second level 2.8 m X 4.93 m Bedroom 4

Extra Room 4 Second level 3.14 m X 3.16 m Bedroom 5

Extra Room 5 Second level 2.25 m X 2.25 m Bathroom

Extra Room 6 Ground level 4.86 m X 3.14 m Living room

Interior

Heating Forced air

Cooling None

Exterior

Parking Features No

View Y/N No

Attached Garage No

Total Parking Spaces 1

Garage No

Private Pool No

Building

Story 2

Sewer Sanitary sewer

Others

Ownership Freehold

Listed by SUTTON GROUP-MASTERS REALTY INC., BROKERAGE

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+1(647) 493-3579

info@tonyledi.com

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378 BARRIE STREET Kingston (east Of Sir John A. Blvd), ON K7K3T4