Property Description for 307 ALFRED STREET
Incredible downtown Kingston legal 4-unit investment property seconds from Queen's University and everything else nice that Kingston has to offer. This 11 bedroom fourplex is the perfect addition to a rental portfolio offering a rare combination of stability, demand, and strong returns. The building is currently fully leased (Apt 1 $1600, Apt 2 $4100, Apt 3 $1600 and Apt 4 $2143.59) and has never been vacant - the consistent demand has been proven over the years. Owned by the same owner since 2004, this investment has paid off. Generating impressive rental yields, this property is currently bringing in over $113,000 per year with a cap rate of nearly 6%! Unit 1 features 2 good sized bedrooms, along with a full kitchen and bath. Units 2, 3, & 4, are all 3 bedroom units with cozy kitchens, multiple bathrooms, big windows and large bedrooms. The charm, walkability, and lakeside lifestyle continue to attract tenants year-round. Whether you're expanding your portfolio or entering the market, this is a prime opportunity to invest in one of Ontario's most dependable university towns. (id:38686)
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Property Details
Property Tax
: $9,609MLS® #
: X12332319
Home Features
Property Type
: MultiFamily
Room Details
Partial Bathroom
: 2
Interior Features
Heating
: Radiant heat, Natural gasBasement
: Finished, N/A
Utilities
Sewer
: Sanitary sewer
Other
Parking Features
: No GarageExterior Features
: Brick
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