335 Barrie Street Kingston, ON K7K 2S9
Listing Courtesy of:  CREA / Sutton Group-Masters Realty Inc Brokerage

  335 Barrie Street Kingston, ON K7K 2S9

Active (32 Days)
$5,750,000
18
BED
12
BATH

Description

Rare opportunity to acquire a purpose-built student rental property in a prime downtown location in Kingston, Ontario. The subject property features 12 residential units, comprising (6) 2-bed units and (6) 1+1-bed units, along with (1) ground floor commercial unit, which is leased on a triple-net basis to a well-established yoga studio until 2029. Conveniently situated 600m from Queen's University's main campus, the 12 residential units are currently occupied by Queen's University students which provide the opportunity to adjust rents to market upon natural turnover. Built in 2009, the property offers contemporary construction, curb appeal, while simultaneously providing a new owner with a potential value enhancement opportunity through cosmetic updates to the residential units. Gross annual income of approximately $381,000 CAD. The assumable CMHC mortgage secured at well-below prevailing interest rates until 2028 provides a prospective purchaser the opportunity to acquire this building today, at yesterday's rates. (id:41440)

MLS®:
40554248
Type
Multifamily
County
Frontenac County

Listed By

Peter Sauerbrei, Sutton Group-Masters Realty Inc Brokerage
Source
CREA
Last checked Apr 15 2024 at 8:02 AM GMT+0000
Bathroom Details
  • Full Bathrooms: 12
Interior Features
  • Microwave
  • Window Coverings
  • Garage Door Opener
  • Microwave Built-In
Subdivision
  • 22 - East Of Sir John A. Blvd
Lot Information
  • Automatic Garage Door Opener
Property Features
  • Foundation: Poured Concrete
Heating and Cooling
  • Baseboard Heaters
  • Forced Air
  • Central Air Conditioning
Exterior Features
  • Other
  • Brick Veneer
  • Shingles
Utility Information
  • Sewer: Municipal Sewage System
Parking
  • Total: 7
  • Attached Garage
  • Covered
Stories
  • 3
Location
   
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Disclaimer: REALTOR.CA The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Listing Data Last Updated: 4/15/24 01:02