Kingston, ON K7K 2C3,48 Stephen ST
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Kingston, ON K7K 2C3,48 Stephen ST
Kingston, ON K7K 2C3,48 Stephen ST
Kingston, ON K7K 2C3,48 Stephen ST
Kingston, ON K7K 2C3,48 Stephen ST
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Jethro Seymour

Jethro Seymour

+1(416) 712-0767
$ 2,375,000
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48 Stephen ST Kingston, ON K7K 2C3

UPDATED:

Key Details

Property Type Commercial

Sub Type Investment

Listing Status Active

Purchase Type For Sale

Subdivision 22 - East Of Sir John A. Blvd

MLS Listing ID X12703412

Annual Tax Amount $24,831

Tax Year 2025

Property Sub-Type Investment

Lot Depth 141.18

Lot Front 57.72

Property Description

Well-located 12-unit apartment building in Kingston's highly sought-after Inner Harbour District. The property generates a current NOI of $106,803 and is approximately 21% under-rented across the building, offering immediate and measurable upside through rent optimization. The building is in good overall condition, with several capital improvements already completed. Rents are inclusive, with landlord-paid utilities, creating potential for future expense optimization. On-site parking enhances tenant appeal and long-term stability. This asset qualifies for CMHC MLI-Select-style financing, making it an attractive opportunity for investors seeking leverage, income growth, and a strong downtown location with limited multi-residential supply. Full financials, rent roll, and supporting documentation are available in the data room. Serious buyers are encouraged to review the materials to fully understand the income upside and financing potential.

Location

Province ON

County Frontenac

Area Frontenac

Interior

Cooling No

Exterior

Utilities Available Yes

Lot Frontage 57.72

Lot Depth 141.18

Others

ParcelsYN No

Listed by RE/MAX RISE EXECUTIVES, BROKERAGE
Jethro Seymour

Jethro Seymour

Broker

+1(416) 712-0767

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48 Stephen ST

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