442 Macdonnell Street, Kingston - Listed at $2,375,000. | Modern Solution Realty

442 Macdonnell Street, Kingston

442 Macdonnell Street in Kingston - 12 bedroom, 12 bathroom. Listed at $2,375,000.

Prime investment opportunity in Central Kingston! This solid, fully-brick 12-unit residential building features a turn-key mix of 7 one-bedroom units and 5 efficient bachelor units. Situated in a high-demand location with easy transit access to downtown amenities and post-secondary institutions. Strong Revenue Stream: Generating a solid $182,600 in gross annual rent, plus extra income from the onsite coin-operated laundry and 3 dedicated outdoor parking spaces. Current Rent is 12% below market across the building, with room to improve. Low Owner Capital Expenditure: New roof replaced 2 years ago, offering low maintenance risk for years to come.Minimal Utility Costs: Each unit is individually metered for hydro, drastically keeping landlord utility expenses low. Key Features: Carpet-free building interior, exterior lighting, updated fire protection system, and select units with cozy gas fireplaces. An exceptionally stable, low-maintenance multi-family asset offering strong cash flow with reliable upside.

Property Details

  • Property Type: Mortgage
  • Style: Other
  • Basement: None
  • Heating: Electric
  • Cooling: Other
  • Parking: 3 spaces
  • Property Taxes: $20,636/yr
  • Neighbourhood: 14 - Central City East
  • Postal Code: K7L 4E4

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