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4 Beds 4 Bath 3000-3500 sqft

79-81 Queen St

Kingston K7K 1A5 Ontario

MLS: X11898946

$1,600,000

Added a month ago | For Sale

Listed by: RE/MAX FINEST REALTY INC., BROKERAGE

About Property

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.

Features

  • House Style:Fourplex
  • Bathrooms:4
  • Land Size:
  • Water:Municipal
  • Garage Spaces:0 /None
  • Driveway:Available
  • Heating Fuel:Electric
  • Cross Street:One street north of Princess,
  • Basement:Apartment , Finished
  • Possession Date:TBA
  • Annual Property taxes: $6366.78
  • Bedrooms:4 +2
  • Total Parking Spaces:10
  • Parking Places:10
  • Heating Type:Baseboard
  • Pool Type:None
  • Exterior:Stone
  • Fronting On:N
  • Front Footage:34
  • Listing ID:X11898946

Rooms Dimensions Description
Kitchen 3.58 X 2.95 -
Living 3.58 X 3.36 -
Br 4.1 X 3.51 -
Kitchen 3.38 X 3.45 -
Living 3.33 X 4.72 -
Br 3.12 X 3.28 -
Br 2.31 X 3.63 -
Kitchen 2.72 X 3.71 -
Living 2.9 X 4.62 -
Br 4.57 X 3.71 -
Br 2.77 X 4.45 -

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Average Sale Prices per Month in Kingston
This graph illustrates the average sale prices per month in Kingston, providing an in-depth analysis of the real estate market trends and fluctuations
4 Bedrooms Fourplex House Kingston
Monthly Sales Trends in Kingston
This graph showcases the monthly sales trends in Kingston, offering valuable insights for both buyers and sellers in the real estate market.
4 Bedrooms Fourplex House Kingston
Avg Price for 4 Bedroom Fourplex house in Kingston
Discover the last 3 months average sold price city of Kingston neighbourhoods.
Community Average Price Difference Avg Days On Market
Central City East $1,185,000
-35.02%
65
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