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$5,750,000

335-339 BARRIE Street
Kingston, Ontario K7K2S9

ID# 40554248
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:56267)
Courtesy of Sutton Group-Masters Realty Inc Brokerage

Listed on: March 14, 2024

On market: 66 days
Bathroom Total 12
Bedrooms Total 18
Cooling Type Central air conditioning
Heating Type Baseboard heaters, Forced air
Stories Total 3

Head Office

Royal LePage ProAlliance Realty, Brokerage

357 Front Street Empire Square

Belleville, OntarioK8N 2Z9


Bus: (613) 966-6060

Fax: (613) 966-2904

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