48 Stephen Street Kingston, Ontario K7K 2C3
$2,375,000
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:28469)
Business
| Business Type | Residential |
| Business Sub Type | Apartments |
Property Details
| MLS® Number | X12703412 |
| Property Type | Multi-family |
| Community Name | 22 - East of Sir John A. Blvd |
Building
| Cooling Type | None |
| Heating Fuel | Natural Gas |
| Heating Type | Hot Water Radiator Heat, Radiator |
| Size Interior | 10,000 Ft2 |
| Type | Multi-family |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| Size Depth | 141 Ft ,2 In |
| Size Frontage | 57 Ft ,8 In |
| Size Irregular | 57.72 X 141.18 Ft |
| Size Total Text | 57.72 X 141.18 Ft |
| Zoning Description | Ur5 |
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
January 17 2026 03:50:41
Kingston & Area Real Estate Association
RE/MAX Rise Executives, Brokerage