341 Division Street
22 - East of Sir John A. Blvd, Kingston, K7K 4A2
For Sale
6.29 BTC

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4
BEDROOMS3
BATHROOMS3
KITCHENS10
ROOMSX12615750
MLSIDContact Us
Property Description
Attention Investors and Queen's University Parents! Beautifully kept cash-flowing legal non-conforming triplex in prime downtown Kingston location! Aggressively priced and fully rented with a 7.28% cap rate and immediate cash flow. Unit #1 (1BR): $1,600/month, Unit #3 (1BR): $1,600/month, Unit #2 (2BR): $1,900/month for a total gross income of $61,200 annually. Operating expenses are $12,440 (Taxes: $4,568, Insurance: $2,210, Utilities: $5,662) for an NOI of $48,760 with upside potential to $55,000+ through strategic rent increases. Each unit features in-suite laundry and dedicated parking-a rare combination that commands premium rents. The building is in excellent condition with extensive recent upgrades including plumbing, electrical, furnace, roof, windows, soffits, and eaves. High ceilings and exposed brick throughout make units highly attractive to tenants. This is a turnkey investment with quality tenants in place, low operating costs, and strong cash flow from day one. Perfect for first-time multi-family investors or experienced landlords looking for a solid performing asset in Kingston's strong rental market. Easy showings available-call, text, or email to book your viewing.
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Property Features
None, Available, Private Double
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Property Details
Property Type
Triplex
Lot Size
25' x 100'
Taxes
$4,568 (2024)
Basement
Unfinished
Heat Type
Forced Air
Heat Source
Gas
Water
Municipal
Parking Spaces
5
Garage Type
None
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Listing contracted with Re/Max Rise Executives, Brokerage
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