48 Stephen Street, Kingston, ON K7K 2C3
Kingston, ON K7K 2C3
About this property
Well-located 12-unit apartment building in Kingston's highly sought-after Inner Harbour District. The property generates a current NOI of $106,803 and is approximately 21% under-rented across the building, offering immediate and measurable upside through rent optimization. The building is in good overall condition, with several capital improvements already completed. Rents are inclusive, with landlord-paid utilities, creating potential for future expense optimization. On-site parking enhances tenant appeal and long-term stability. This asset qualifies for CMHC MLI-Select-style financing, making it an attractive opportunity for investors seeking leverage, income growth, and a strong downtown location with limited multi-residential supply. Full financials, rent roll, and supporting documentation are available in the data room. Serious buyers are encouraged to review the materials to fully understand the income upside and financing potential.
Property facts & features
- Property type
- Investment
- MLS® number
- X13228856
- Source status
- New
- Bedrooms
- Not provided
- Bathrooms
- Not provided
- Reported interior area
- 10000
- Neighbourhood
- Not provided
- Postal code
- K7K 2C3
- Garage
- None
- Lot depth (source units)
- 141.18
- Annual property tax
- 24831.39
- Basement
- Not provided
- Laundry
- Not provided
- Interior features
- Not provided
- Exterior features
- Not provided
Values and units are reported by the listing source. Verify measurements and fees with the brokerage.
Floor plans & room measurements
Floor plans and verified room measurements are not available for this property.
Property value & listing history
New · $2,375,000
Multi-event history, valuations and sold comparables require verified property identity and display permissions. No historical events or estimated values have been inferred.
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Explore active properties in Kingston →Listing brokerage: RE/MAX RISE EXECUTIVES, BROKERAGE. Displayed by EnterHome Realty. Source: authorized IDX record, MLS® X13228856. Information deemed reliable but not guaranteed.