$3,199,900
Available - For Sale
Listing ID: X13467366
49-67 Adelaide Street , Kingston, K7K 1Y3, Frontenac
| An excellent opportunity to acquire a 10 unit townhouse complex positioned on the outskirts of Downtown Kingston, offering strong income, functional layouts & long term investment appeal. The property is comprised of 10 attached townhouse units with a mix of 2 & 3 bedroom layouts, each featuring its own private walk-out basement, with 6 units also offering decks off the living room. Six of the ten units have been renovated, creating a strong blend of updated interiors with continued upside potential across the remaining units. The property is designed for efficient ownership, with all units separately metered, tenants paying their own utilities, & each unit equipped with its own forced air gas furnace & hot water tank. Additional highlights include a massive parking lot & a 12 ft x 27 ft storage shed. Based on the current rent roll & expenses, the property offers an approximate current Cap Rate of 5.24%, with a projected Cap Rate of approximately 5.37% based on scheduled 2026 rent increases. With townhouse-style units, tenant-paid utilities, individual mechanical systems, strong parking & close proximity to Downtown Kingston & public transit, this is a compelling income-producing property with excellent operational fundamentals. |
| Price | $3,199,900 |
| Taxes: | $20682.72 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 49-67 Adelaide Street , Kingston, K7K 1Y3, Frontenac |
| Postal Code: | K7K 1Y3 |
| Province/State: | Frontenac |
| Legal Description: | LTS 2, 15 & 16, PL B12 AS IN FR787376 KI |
| Directions/Cross Streets: | Division Street & Adelaide Street |
| 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 |
| Category: | Apartment |
| Use: | Apts - 6 To 12 Units |
| Building Percentage: | T |
| Total Area: | 8280.00 |
| Total Area Code: | Square Feet |
| Financial Statement: | T |
| Chattels: | T |
| Washrooms: | 12 |
| Heat Type: | Gas Forced Air Close |
| Central Air Conditioning: | No |
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| ROYAL LEPAGE PROALLIANCE REALTY, BROKERAGE |
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Lynn Tribbling
Sales Representative
Dir:
416-252-2221
Bus:
416-383-9525
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Investment |
| Area: | Frontenac |
| Municipality: | Kingston |
| Neighbourhood: | 22 - East of Sir John A. Blvd |
| Tax: | $20,682.72 |
| Baths: | 12 |
| Fireplace: | N |
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