138 Chatham Street, Kingston, ON K7K 4H4
- $775,000
- 6
- BD
- 3
- BA
- 1,500
- SqFt
- List Price
- $775,000
- MLS#
- X13679136
- Status
- ACTIVE
- Type
- Multifamily
- SubType
- Duplex
- Style
- 2-Storey
- Bedrooms
- 6
- Bathrooms
- 3
- Living Area
- 1500-2000
- Province
- ON
- Municipality
- Kingston
- Area
- Frontenac
- Neighborhood
- 22 - East of Sir John A. Blvd
- Subdivision
- Pine & Hamilton
Property Description
Excellent investment opportunity in the heart of Kingston, approximately a 15-minute walk from Queen's University and close to major bus routes. Located just north of Princess Street, this detached 6-bedroom duplex is a strong addition to any investment portfolio. The main unit offers 5 bedrooms across two levels, 2 full bathrooms, a spacious living room, and a large eat-in kitchen with updated flooring. A major bonus is the additional bachelor apartment, providing an extra income stream. Both units are separately metered and share access to on-site laundry. 2 parking spots are available to rent for additional income too. Generating $66,000 in gross annual income, this property offers an impressive cap rate of over 7.5%. Major updates include a roof replacement in 2023 and vinyl windows throughout. A proven income generator with strong rental demand, the property is currently leased until April 30th, 2027. The bachelor apartment is currently rented below market value, presenting excellent future upside potential.
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Additional Information
- Taxes
- $4,935
- Heat Type
- Forced Air
- Heat Source
- Gas
- Air Conditioning
- None
- Kitchens
- 2
- Exterior
- Vinyl Siding
- Garage Type
- None
- Pool
- None
- Parking Spaces
- 2
- Parking Type
- Front Yard Parking
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Listing courtesy of ONE PERCENT REALTY LTD..