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Ontario
Kingston (East of Sir John A. Blvd)
48 STEPHEN STREET

$2,375,000

48 STEPHEN STREET, Kingston (East of Sir John A. Blvd), Ontario, K7K 2C3

MLS® # X12703412

Kingston (East Of Sir John A. Blvd) ON, K7K 2C3

MLS® # X12703412

Property Information:

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. (id:27)

Building Features:

Style: Multiplex
Building Type: Multi-Family
Floor Space: 10000 sqft
Heating Type: Hot water radiator heat
Heating Fuel: Natural gas
Cooling Type: None

Property Features:

Property Type: Multi-family
Floor Space (approx): 10000 Square Feet
Irregular: Yes
Lot Depth: 141.2 Feet
Lot Frontage: 57.7 Feet
Lot Size: 57.72 x 141.18 FT
Zoning: UR5
Sewer: Sanitary sewer

Courtesy of: RE/MAX RISE EXECUTIVES, BROKERAGE

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⚠ Potential Investment Performance

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Market Price Trends

Location of 48 STEPHEN STREET, Kingston (East of Sir John A. Blvd), Ontario, K7K 2C3

Lifestyle
Neighbourhood

Demographic Information of 48 STEPHEN STREET, Kingston (East of Sir John A. Blvd), Ontario, K7K 2C3

Life Stage

Young Couples

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$74,857.34

Average Number of Children

1.54

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

22.02 %

High school certificate or equivalent

35.32 %

Apprenticeship trade certificate/diploma

4.45 %

College/non-university certificate

21.53 %

University certificate (below bachelor)

0.35 %

University Degree

16.32 %

Commuter

Travel To Work

By Car

76.02 %

By Public Transit

7.12 %

By Walking

11.83 %

By Bicycle

0.57 %

By Other Methods

4.46 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

41.55 %

Houses

58.45 %

Own Vs. Rent