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David Johanns

david@homewithjohanns.com +1(416) 436-3441

$ 1,600,000

Est. payment -/mo

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Active

79-81 Queen ST Kingston, ON K7K 1A5

6 Beds

4 Baths

UPDATED:

01/15/2025 02:53 PM

Key Details

Property Type Multi-Family

Sub Type Fourplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 3000-3500

Subdivision East Of Sir John A. Blvd

MLS Listing ID X11898946

Style 2-Storey

Bedrooms 6

Annual Tax Amount $6,366

Tax Year 2024

Property Sub-Type Fourplex

Property Description

Welcome to 79-81 Queen Street, a historic gem in the heart of downtown Kingston. Built in 1840, this stately limestone building combinestimeless charm with modern amenities, making it a standout investment opportunity. The property features limestone construction withexposed brick interiors that exude character and tenants love. Located in Kingston's vibrant downtown core, it has so many amenities withineasy walking distance including the waterfront, Queens University, Kingston General Hospital, and an incredible number of shops, restaurants,and cultural attractions. This turnkey investment offers four residential units, all separately metered to ensure low operating costs. Each unitincludes appliances, with two featuring dishwashers and one equipped with laundry as well. The property has a history of being fully rented withno vacancies, highlighting its strong rental demand. Additionally, 10 coveted parking spots generate an extra $1,000 per month. There is alsoroom for expansion on the large lot, offering opportunities to add to this property. With easy cosmetic renovations, the units themselves havesignifcant potential for increased revenue, adding even more value to this already attractive investment. Current rents include Unit 79-1 $1,400/month (Oct 2024 - Sep 2025), Unit 79-2 $1,800/month (May 2024 - Apr 2025), Unit 81-1 $1,691/month (month-to-month), and Unit 81-2 $1,800/month (Jul 2024 - Jun 2025). Combined with the parking income, the property currently has a gross annual income of $92,292 and a netoperating income of $67,561. With its unbeatable location, solid income stream, and historic charm, 79-81 Queen Street offers a rare opportunityto own a piece of Kingston's heritage while enjoying a lucrative, low-maintenance investment.

Location

Province ON

County Frontenac

Community East Of Sir John A. Blvd

Area Frontenac

Zoning DT1

Rooms

Family Room Yes

Basement Finished, Apartment

Kitchen 4

Separate Den/Office 2

Interior

Interior Features Separate Hydro Meter, Carpet Free, Water Heater Owned

Cooling Window Unit(s)

Inclusions Fridge x 4, Stove x 4, Range hood x 2, Dishwasher x 2, Washer/dryer combination unit, hot water tank x5, smoke detectors

Exterior

Parking Features Available, Lane, Private Triple, Right Of Way

Pool None

View City, Downtown

Roof Type Asphalt Shingle

Lot Frontage 34.0

Lot Depth 132.0

Total Parking Spaces 10

Building

Foundation Stone

Others

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Listed by RE/MAX FINEST REALTY INC., BROKERAGE

David Johanns

Agent

+1(416) 436-3441

David Johanns

79-81 Queen ST Kingston, ON K7K 1A5

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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79-81 Queen ST