$5,750,000 $30,867 est/mo Sourced by Back At You

335-339 Barrie Street,Kingston, ON K7K 2S9

Kingston ON, K7K 2S9

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Description

Rare opportunity to acquire a purpose-built student rental property in a prime downtown location in Kingston, Ontario. The subject property features 12 residential units, comprising (6) 2-bed units and (6) 1+1-bed units, along with (1) ground floor commercial unit, which is leased on a triple-net basis to a well-established yoga studio until 2029. Conveniently situated 600m from Queen's University's main campus, the 12 residential units are currently occupied by Queen's University students which provide the opportunity to adjust rents to market upon natural turnover. Built in 2009, the property offers contemporary construction, curb appeal, while simultaneously providing a new owner with a potential value enhancement opportunity through cosmetic updates to the residential units. Gross annual income of approximately $381,000 CAD. The assumable CMHC mortgage secured at well-below prevailing interest rates until 2028 provides a prospective purchaser the opportunity to acquire this building today, at yesterday's rates.

Details

MLS#40554248
Listing TypeFor Sale
StyleTown House
Sub-TypeResale
StatusActive
Days On Site65
Listing Provided BySutton Group-Masters Realty Inc Brokerage | Peter Sauerbrei

Features

Bed(s)18
Bath(s)12
SQ Feet10,883
Garage7
Story(s)3
Units4
ZoningC1-27
MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Information Technology of Southern Ontario MLS.

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Listings Checked: 5 minutes ago
ProvinceON
CountyFrontenac
CityKingston
Postal CodeK7K 2S9
AreaKingston
Subarea22 East of Sir John A. Blvd
Community Name22 East of Sir John A. Blvd
Listing VS Median (in 22 East of Sir John A. Blvd)
Price:
$5,750,000
low | high
Med:
$549,900
100% of Average
SqFt:
10,883
low | high
Med:
1,182
100% of Average
$ / SqFt:
$528
low | high
Med:
$465
61.946418009269% of Average
On Site:
65
low | high
Med:
4
100% of Average
Sourced by Back At You
Listing Updated: March 20, 2024 at 10:01:43 AM PDT