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Jethro Seymour

[email protected] +1(416) 712-0767

$ 1,600,000

Est. payment -/mo

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79-81 Queen ST Kingston, ON K7K 1A5

5 Beds

4 Baths

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Fourplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 3000-3500

Subdivision 22 - East Of Sir John A. Blvd

MLS Listing ID X12250748

Style 3-Storey

Bedrooms 5

Annual Tax Amount $6,366

Tax Year 2024

Property Sub-Type Fourplex

Lot Depth 132.0

Lot Front 34.0

Appx SqFt 3000-3500

Property Description

Welcome to 79-81 Queen Street, a historic gem in the heart of downtown Kingston. Built in 1840, this stately limestone building combines timeless charm with modern amenities, making it a standout investment opportunity. The property features limestone construction with exposed brick interiors that exude character and tenants love. Located in Kingston's vibrant downtown core, it has so many amenities within easy 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 unit includes appliances, with two featuring dishwashers and one equipped with laundry as well. The property has a history of being fully rented with no vacancies, highlighting its strong rental demand. Additionally, 10 coveted parking spots generate an extra $1,000 per month. There is also room for expansion on the large lot, offering opportunities to add to this property. With easy cosmetic renovations, the units themselves have significant 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 net operating income of $67,561. With its unbeatable location, solid income stream, and historic charm, 79-81 Queen Street offers a rare opportunity to own a piece of Kingston's heritage while enjoying a lucrative, low-maintenance investment.

Location

Province ON

County Frontenac

Community 22 - East Of Sir John A. Blvd

Area Frontenac

Rooms

Family Room Yes

Basement Apartment, Separate Entrance

Kitchen 3

Separate Den/Office 3

Interior

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

Cooling Window Unit(s)

Fireplace No

Heat Source Electric

Exterior

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

Pool None

Waterfront Description None

View City, Downtown

Roof Type Asphalt Shingle

Lot Frontage 34.0

Lot Depth 132.0

Total Parking Spaces 10

Building

Building Age 100+

Unit Features Hospital,Library,Park,Place Of Worship,Public Transit,School

Foundation Stone

Listed by RE/MAX FINEST REALTY INC., BROKERAGE

Jethro Seymour

Broker

+1(416) 712-0767

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Jethro Seymour

79-81 Queen ST Kingston, ON K7K 1A5

Key Details

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Interior

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79-81 Queen ST