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$ 1,475,000
Est. payment | /mo
2,785 SqFt
$ 1,475,000
Est. payment | /mo
2,785 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2785
Square Footage 2,785 sqft
Price per Sqft $529
Subdivision 22 - East Of Sir John A. Blvd
MLS® Listing ID X13668718
Property Description
Welcome to 79-81 Queen Street, a landmark limestone investment property in the heart of downtown Kingston. Built circa 1840 and rich with historic character, this stately building pairs timeless limestone construction and exposed brick interiors with an exceptional location just steps from the waterfront, Queen's University, Kingston General Hospital, shops, restaurants and cultural attractions. The property offers four residential units, each separately metered to help keep operating costs low, with appliances included in every unit, dishwashers in two and in-suite laundry in one. Current monthly rents are Unit 79-1 at $1,495 beginning September 2026, Unit 79-2 currently offered for lease at $1,795, Unit 81-1 at $1,700 month-to-month and Unit 81-2 at $1,995 beginning August 2026. An exceptional downtown asset, the property also includes 10 coveted parking spaces with the potential to generate an additional $1,000 per month. Based on current projected rents and parking income, the property offers gross annual income of $95,820 and net operating income of approximately $75,780. Its strong rental history reflects the consistent demand for distinctive downtown accommodations, while the large lot may offer future expansion possibilities, including additional units or an addition to the existing building, subject to municipal approvals. The apartments also present value-add potential through cosmetic improvements and future rent growth. With its irreplaceable limestone character, strong projected income, low operating-cost structure, substantial parking and potential for further growth, 79-81 Queen Street is a rare opportunity to acquire a distinguished piece of Kingston's heritage in one of the city's most walkable and sought-after locations. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters
Cooling Partially air conditioned
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 10
Garage No
Private Pool No
Building
Sewer Sanitary sewer
Others
Virtual Tour https://youriguide.com/79_queen_st_kingston_on
Listed by RE/MAX FINEST REALTY INC., BROKERAGE
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