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CHRIS HOLM

[email protected] +1(250) 309-0039

$ 1,600,000

Est. payment -/mo

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Active

79-81 QUEEN STREET Kingston (east Of Sir John A. Blvd), ON K7K1A5

5 Beds

4 Baths

3,000 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,000 sqft

Price per Sqft $533

Subdivision 22 - East Of Sir John A. Blvd

MLS® Listing ID X12250748

Bedrooms 5

Source Kingston & Area Real Estate Association

Property Description

Welcome to 79-81 Queen Street, a historic gem in the heart of downtown Kingston. Built in 1840, this stately limestone building combines timeless charm with modern amenities, making it a standout investment opportunity. The property features limestone construction with exposed brick interiors that exude character and tenants love. Located in Kingston's vibrant downtown core, it has so many amenities within easy walking distance including the waterfront, Queens University, Kingston General Hospital, and an incredible number of shops, restaurants, and cultural attractions. This turnkey investment offers four residential units, all separately metered to ensure low operating costs. Each unit includes appliances, with two featuring dishwashers and one equipped with laundry as well. The property has a history of being fully rented with no vacancies, highlighting its strong rental demand. Additionally, 10 coveted parking spots generate an extra $1,000 per month. There is also room for expansion on the large lot, offering opportunities to add to this property. With easy cosmetic renovations, the units themselves have significant potential for increased revenue, adding even more value to this already attractive investment. Current rents include Unit 79-1 $1,400/month (Oct 2024 - Sep 2025), Unit 79-2 $1,800/month (May 2024 - Apr 2025), Unit 81-1 $1,691/month (month-to-month), and Unit 81-2 $1,800/month (Jul 2024 - Jun 2025). Combined with the parking income, the property currently has a gross annual income of $92,292 and a net operating income of $67,561. With its unbeatable location, solid income stream, and historic charm, 79-81 Queen Street offers a rare opportunity to own a piece of Kingston's heritage while enjoying a lucrative, low-maintenance investment. (id:24570)

Location

Province ON

Rooms

Kitchen 3.0

Extra Room 1 Second level 2.72 m X 3.71 m Kitchen

Extra Room 2 Second level 2.9 m X 4.62 m Living room

Extra Room 3 Third level 2.77 m X 4.45 m Bedroom

Extra Room 4 Third level 4.57 m X 3.71 m Bedroom

Extra Room 5 Basement 4.1 m X 3.51 m Bedroom

Extra Room 6 Basement 3.12 m X 3.28 m Bedroom

Interior

Heating Baseboard heaters

Cooling Window air conditioner

Exterior

Parking Features No

View Y/N Yes

View City view

Total Parking Spaces 10

Private Pool No

Building

Story 3

Sewer Sanitary sewer

Listed by RE/MAX FINEST REALTY INC., BROKERAGE

CHRIS HOLM

PERSONAL REAL ESTATE CORPORATION | License ID: 10430

+1(250) 309-0039

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CHRIS HOLM

79-81 QUEEN STREET Kingston (east Of Sir John A. Blvd), ON K7K1A5

Key Details

Location

Rooms

Interior

Exterior

Building

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79-81 QUEEN STREET

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