$2,375,000
Available - For Sale
Listing ID: X12703412
48 Stephen Street , Kingston, K7K 2C3, Frontenac
| 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. |
| Price | $2,375,000 |
| Taxes: | $24831.39 |
| Tax Type: | Annual |
| Assessment Year: | 2025 |
| Occupancy: | Tenant |
| Address: | 48 Stephen Street , Kingston, K7K 2C3, Frontenac |
| Postal Code: | K7K 2C3 |
| Province/State: | Frontenac |
| Legal Description: | PT FARM LT 1 CON WGCR KINGSTON AS IN FR2 |
| Directions/Cross Streets: | Stephen St and Montreal St |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 0 | |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 | |
| Washroom Type 11 | 0 | |
| Washroom Type 12 | 0 | |
| Washroom Type 13 | 0 | |
| Washroom Type 14 | 0 | |
| Washroom Type 15 | 0 | |
| Washroom Type 16 | 0 | |
| Washroom Type 17 | 0 | |
| Washroom Type 18 | 0 | |
| Washroom Type 19 | 0 | |
| Washroom Type 20 | 0 |
| Category: | Apartment |
| Use: | Apts - 6 To 12 Units |
| Building Percentage: | T |
| Total Area: | 10000.00 |
| Total Area Code: | Square Feet |
| Washrooms: | 0 |
| Heat Type: | Gas Hot Water |
| Central Air Conditioning: | No |
| Sewers: | Sanitary |
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Years
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| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
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Bus:
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Fax:
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At a Glance:
| Type: | Com - Investment |
| Area: | Frontenac |
| Municipality: | Kingston |
| Neighbourhood: | 22 - East of Sir John A. Blvd |
| Tax: | $24,831.39 |
| Fireplace: | N |
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