$1,600,000
Available - For Sale
Listing ID: X11898946
79-81 Queen St , Kingston, K7K 1A5, Ontario
| Welcome to 79-81 Queen Street, a historic gem in the heart of downtown Kingston. Built in 1840, this stately limestone building combinestimeless charm with modern amenities, making it a standout investment opportunity. The property features limestone construction withexposed brick interiors that exude character and tenants love. Located in Kingston's vibrant downtown core, it has so many amenities withineasy walking distance including the waterfront, Queens University, Kingston General Hospital, and an incredible number of shops, restaurants,and cultural attractions. This turnkey investment offers four residential units, all separately metered to ensure low operating costs. Each unitincludes appliances, with two featuring dishwashers and one equipped with laundry as well. The property has a history of being fully rented withno vacancies, highlighting its strong rental demand. Additionally, 10 coveted parking spots generate an extra $1,000 per month. There is alsoroom for expansion on the large lot, offering opportunities to add to this property. With easy cosmetic renovations, the units themselves havesignifcant potential for increased revenue, adding even more value to this already attractive investment. Current rents include Unit 79-1 $1,400/month (Oct 2024 - Sep 2025), Unit 79-2 $1,800/month (May 2024 - Apr 2025), Unit 81-1 $1,691/month (month-to-month), and Unit 81-2 $1,800/month (Jul 2024 - Jun 2025). Combined with the parking income, the property currently has a gross annual income of $92,292 and a netoperating income of $67,561. With its unbeatable location, solid income stream, and historic charm, 79-81 Queen Street offers a rare opportunityto own a piece of Kingston's heritage while enjoying a lucrative, low-maintenance investment. |
| Price | $1,600,000 |
| Taxes: | $6366.78 |
| Address: | 79-81 Queen St , Kingston, K7K 1A5, Ontario |
| Lot Size: | 34.00 x 132.00 (Feet) |
| Acreage: | < .50 |
| Directions/Cross Streets: | One street north of Princess, East of Division. 79-81 Queen is just West of Wellington on the North |
| Rooms: | 8 |
| Rooms +: | 1 |
| Bedrooms: | 4 |
| Bedrooms +: | 2 |
| Kitchens: | 4 |
| Family Room: | Y |
| Basement: | Apartment, Finished |
| Approximatly Age: | 100+ |
| Property Type: | Fourplex |
| Style: | 2-Storey |
| Exterior: | Stone |
| Garage Type: | None |
| (Parking/)Drive: | Available |
| Drive Parking Spaces: | 10 |
| Pool: | None |
| Approximatly Age: | 100+ |
| Approximatly Square Footage: | 3000-3500 |
| Property Features: | Hospital, Library, Park, Place Of Worship, Public Transit, School |
| Fireplace/Stove: | N |
| Heat Source: | Electric |
| Heat Type: | Baseboard |
| Central Air Conditioning: | Window Unit |
| Central Vac: | N |
| Laundry Level: | Lower |
| Elevator Lift: | N |
| Sewers: | Sewers |
| Water: | Municipal |
| Utilities-Cable: | Y |
| Utilities-Hydro: | Y |
| Utilities-Gas: | Y |
| Utilities-Telephone: | Y |
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| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| RE/MAX FINEST REALTY INC., BROKERAGE |
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At a Glance:
| Type: | Freehold - Fourplex |
| Area: | Frontenac |
| Municipality: | Kingston |
| Neighbourhood: | East of Sir John A. Blvd |
| Style: | 2-Storey |
| Lot Size: | 34.00 x 132.00(Feet) |
| Approximate Age: | 100+ |
| Tax: | $6,366.78 |
| Beds: | 4+2 |
| Baths: | 4 |
| Fireplace: | N |
| Pool: | None |
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