480 VICTORIA STREET, Kingston (Central City East), Ontario, K7L3Z7

Property Description

This well-maintained all-brick residence offers a compelling investment opportunity for parent buyers and seasoned investors alike. Configured as a five-bedroom student rental in the main home with a self-contained bachelor suite at the rear, the property delivers immediate, stable income with excellent long-term flexibility. The front residence is currently leased at $999 per bedroom, inclusive of heat and hydro, generating $4,995 per month, with all five tenants secured until April 30, 2026. The rear bachelor unit is occupied by a long-term tenant paying $1,075 per month, resulting in a total gross monthly income of $6,070. The main house offers pine hardwood flooring throughout the main floor, a full bathroom on the main level, and a second full bathroom upstairs, providing strong functionality for student living. Bedrooms are spread across two levels with bright common areas and in-suite laundry. The separate rear bachelor suite offers additional income stability. Recent improvements include a newly renovated downstairs bathroom, new carpet upstairs, and updated appliances. Located on a deep lot, the property also offers the rare ability to accommodate up to four vehicles in the backyard, an extremely attractive feature that could add to the monthly income. Ideally positioned near Queen's University, downtown, transit routes, and major amenities, this property continues to perform year after year with consistent tenant demand. A rare opportunity to acquire a high-yield Kingston rental with very strong cash flow, recent updates, and built-in upside. Schedule your viewing today! (id:64974)

Quick Facts

• Property Type: House (Freehold)
• Bedrooms: 6 (5 above, 1 below)
• Bathrooms: 3
• Ownership: Freehold
• Attached: No
• Parking: 4 spaces (No Garage)
• Frontage: 33 ft (10 m)

Costs

• Annual Taxes: $5,570.90

Listing Provided by: RE/MAX RISE EXECUTIVES, BROKERAGE
Board: Kingston & Area Real Estate Association
Data provided via CREA DDF®.