Active
335-339 BARRIE Street
Kingston Ontario, K7K2S9
$5,750,000
$528.35 per sqft
Active
18 Beds
12 Baths
10,883 sqft
Residential
Courtesy of Sutton Group-Masters Realty Inc Brokerage
Rare opportunity to acquire a purpose-built student rental property in a prime downtown location in Kingston, Ontario. The subject property features 12 residential units, comprising (6) 2-bed units and (6) 1+1-bed units, along with (1) ground floor commercial unit, which is leased on a triple-net basis to a well-established yoga studio until 2029. Conveniently situated 600m from Queen's University's main campus, the 12 residential units are currently occupied by Queen's University students which provide the opportunity to adjust rents to market upon natural turnover. Built in 2009, the property offers contemporary construction, curb appeal, while simultaneously providing a new owner with a potential value enhancement opportunity through cosmetic updates to the residential units. Gross annual income of approximately $381,000 CAD. The assumable CMHC mortgage secured at well-below prevailing interest rates until 2028 provides a prospective purchaser the opportunity to acquire this building today, at yesterday's rates. (id:41202)
40554248
MLSⓇ ID
March 14, 2024
Listed
April 2, 2024
Updated
Map
335-339 BARRIE Street
Kingston Ontario, K7K2S9
Interior Features
Total Stories
3
Bedrooms
18 Beds
Bathrooms
12 Baths
Fireplace
No
Cooling
Yes
Cooling Description
Central air conditioning
Heating
Yes
Heating Description
Baseboard heaters, Forced air, ,
Exterior/Building Features
Sewer
Municipal sewage system
Other Property Details
Garage
Yes
Parking Total
7
View
No
Pool
No
Courtesy of Sutton Group-Masters Realty Inc Brokerage, Peter Sauerbrei,
Listing Contact: (613) 212-5234
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