Description

 Price: $ 775,000.00 MLS^®: X13126954         Location : 138 Chatham Street, Kingston, ON K7K 4H4

Excellent investment opportunity in the heart of Kingston, approximately a 15-minute walk from Queen's University and close to major bus routes. Located just north of Princess Street, this detached 6-bedroom duplex is a strong addition to any investment portfolio. The main unit offers 5 bedrooms across two levels, 2 full bathrooms, a spacious living room, and a large eat-in kitchen with updated flooring. A major bonus is the additional bachelor apartment, providing an extra income stream. Both units are separately metered and share access to on-site laundry. 2 parking spots are available to rent for additional income too. Generating $66,000 in gross annual income, this property offers an impressive cap rate of over 7.5%. Major updates include a roof replacement in 2023 and vinyl windows throughout. A proven income generator with strong rental demand, the property is currently leased until April 30th, 2027. The bachelor apartment is currently rented below market value, presenting excellent future upside potential.

Location Description

Pine & Hamilton

Property Details

• Community: 22 - East of Sir John A. Blvd
• Property Type: Tenant/Residential Freehold
• Bedrooms: 6
• Bath: 3
• Garages: None

Building Features

• Foundation Type: Concrete
• Construction Material: Vinyl Siding
• Total Parking Space: 2

Features

• Heating: Forced Air Gas
• Sewer: Sewer ,