442 MACDONNELL STREET

Prime investment opportunity in Central Kingston! This solid, fully-brick 12-unit residential building features a turn-key mix of 6 one-bedroom units and 6 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 $186600 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. CMHC Mortgage is transferable with certain conditions. The Loan loan term ends in 2029 (id:67197)

Price

$2,375,000

Property Type

Multi-family

Transaction Type

For sale

Bedrooms

12

Bathrooms

12

Parking

3

MLS® Number

X13778204

Interior Size

0 - 699 sqft

Building Type

Other

Bedrooms Above Grade

12

Bathrooms

12

Basement

None

Exterior Finish

Brick

Fireplace

No

Foundation

Concrete

Heating Fuel

Electric

Heating

Baseboard heaters

Interior Size

0 - 699 sqft

Water

Municipal water

Size Frontage

33 ft ,10 in

Size Depth

67 ft ,4 in

Acreage

No

Sewer

Sanitary sewer