79-81 Queen ST Pending Save Request In-Person Tour Request Virtual Tour
Kingston,ON K7K 1A5
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Pending
Purchase Type For Sale
Approx. Sqft 3000-3500
MLS Listing ID X11898946
Style 2-Storey
Bedrooms 4
Annual Tax Amount $6,366
Tax Year 2024
Property Description
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.
Location
Province ON
County Frontenac
Community East Of Sir John A. Blvd
Area Frontenac
Region East of Sir John A. Blvd
City Region East of Sir John A. Blvd
Rooms
Family Room Yes
Basement Finished,Apartment
Kitchen 4
Separate Den/Office 2
Interior
Interior Features Separate Hydro Meter,Carpet Free,Water Heater Owned
Cooling Window Unit(s)
Fireplace No
Heat Source Electric
Exterior
Parking Features Available,Lane,Private Triple,Right Of Way
Garage Spaces 10.0
Pool None
Waterfront Description None
View City,Downtown
Roof Type Asphalt Shingle
Lot Depth 132.0
Total Parking Spaces 10
Building
Unit Features Hospital,Library,Park,Place Of Worship,Public Transit,School
Foundation Stone