493 COLLEGE ST Active Save Request In-Person Tour Request Virtual Tour
Kingston,ON K7L 4M8
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2000-2500
Subdivision 14 - Central City East
MLS Listing ID X12544210
Style 2-Storey
Bedrooms 11
Annual Tax Amount $6,067
Tax Year 2025
Property Sub-Type Multiplex
Property Description
Outstanding Income Opportunity! This fully renovated four-plex offers an impressive $132,000 annual income and a 6.7% cap rate; truly turnkey with nothing left to do. Ideally located between Queen's University, St. Lawrence College, and the Teachers' College, this property attracts quality tenants and ensures consistent returns. The building has been completely redone from top to bottom, featuring a 400-AMP electrical service, new plumbing, a brand-new lower-level 3-bedroom apartment, updated kitchens, bathrooms, and flooring, plus an Accessory Dwelling Unit (ADU) for added versatility. Financial highlights include: gross Income $132,000, operating expenses $20,745 (taxes: $6,068, utilities $3,000, maintenance $2,400, management $5,280, insurance $3,997); and net operating income $111,255. A solid, well-managed investment in a prime central location - modern, efficient, and fully rented with great tenants. This is the ideal hands-off income property you've been looking for. Schedule your private viewing today.
Location
Province ON
County Frontenac
Community 14 - Central City East
Area Frontenac
Zoning A
Rooms
Kitchen 4
Interior
Cooling Central Air
Fireplaces Type Electric
Inclusions Refrigerator (x4), stove (x4), dishwasher (x4), microwave (x4), washer/dryer stack-up (x4), and window coverings.
Exterior
Parking Features None
Pool None
Roof Type Asphalt Shingle
Building
Building Age 51-99
Foundation Block
Others
Virtual Tour https://unbranded.youriguide.com/1-2-3_4_493_college_st_kingston_on/