48 Stephen Street, Kingston, ON K7K 2C3, Kingston, ON, K7K 2C3
MLS: X12703412 | Investment
$2,375,000
Property Description
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.
Quick Facts
- Property Type: Investment
- Bedrooms: None
- Bathrooms: None
Costs
- Annual Taxes: $24,831.39 (2025)
Listing Provided by: RE/MAX RISE EXECUTIVES, BROKERAGE
Board: Toronto Regional Real Estate Board
Data provided via CREA DDF®.
Detailed Features
Interior & Systems
- Cooling: No
- Utilities: Yes
Exterior & Construction
- Sewer: Sanitary
Lot & Land
- Zoning: UR5
Community & Neighbourhood
- Neighbourhood: 22 - East of Sir John A. Blvd
Listing Information
Listing History
Sold history, price changes, and days-on-market are reserved for registered users.
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Property Comparables ?Active Comparables — Search CriteriaSearch Radius2 kmPrice Range±15%Match Home TypeYesMatch BedroomsYes
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48 Stephen Street, Kingston, ON K7K 2C3, Kingston, ON, K7K 2C3