Attention Investors and Queen's University Parents! Beautifully kept cash-flowing legal non-conforming triplex in prime downtown Kingston location! Aggressively priced and fully rented with a 7.28% cap rate and immediate cash flow. Unit #1 (1BR): $1,600/month, Unit #3 (1BR): $1,600/month, Unit #2 (2BR): $1,900/month for a total gross income of $61,200 annually. Operating expenses are $12,440 (Taxes: $4,568, Insurance: $2,210, Utilities: $5,662) for an NOI of $48,760 with upside potential to $55,000+ through strategic rent increases. Each unit features in-suite laundry and dedicated parking-a rare combination that commands premium rents. The building is in excellent condition with extensive recent upgrades including plumbing, electrical, furnace, roof, windows, soffits, and eaves. High ceilings and exposed brick throughout make units highly attractive to tenants. This is a turnkey investment with quality tenants in place, low operating costs, and strong cash flow from day one. Perfect for first-time multi-family investors or experienced landlords looking for a solid performing asset in Kingston's strong rental market. Easy showings available-call, text, or email to book your viewing.
Address
341 Division Street
List Price
$669,900
MLS® Status
New
Expiration Date
2026-03-10
Property Type
Residential Freehold
Type of Dwelling
Triplex
Style of Home
2-Storey
Transaction Type
Sale
Area
Kingston
Sub-Area
22 - East of Sir John A. Blvd
Region
Frontenac
Bedrooms
4
Bedrooms (Total)
4
Rooms Above Grade
10
Rooms (Total)
13
Bathrooms
3
Floor Area
1500-2000 Sq. Ft.
Lot Depth
100
Lot Size Range (Acres)
< .50
Lot Size Units
Feet
Lot Width
25
Parcel Number
360510164
Occupant Type
Tenant
Cross Street
Division between Pine and Quebec
MLS® Number
X12615750
Listing Brokerage
RE/MAX RISE EXECUTIVES, BROKERAGE
Basement Area
Unfinished
Postal Code
K7K 4A2
Posession Details
Immediate
Parking
Available, Private Double
Parking Places (Total)
5
Parking Spaces
5
Tax Amount
$4,568.02
Tax Year
2024
Interior Features
None
Central Vacuum
No
Family Room
No
Elevator
No
Ensuite Laundry
No
Special Designation
Unknown
Standard Status
Active
Board Or Association
Kingston & Area Real Estate Association
Heat Source
Gas
Heat Type
Forced Air
Cooling
No
Cooling Features
None
New Construction
No
Construction Materials
Vinyl Siding, Brick
Direction Faces
West
Fireplace
No
Foundation Details
Stone
Garage
No
Garage Type
None
Kitchens Total
3
Kitchens Above Grade
3
Pool Features
None
Roof
Asphalt Shingle
Tax Legal Description
PT LT 14 SW/S CHESTNUT ST, 15 SW/S CHESTNUT ST, 1 E/S DIVISION ST, 13 E/S DIVISION ST PL B30 KINGSTON CITY AS IN FR494808; S/T & T/W FR715824; KINGSTON ; THE COUNTY OF FRONTENAC
Waterfront
No
Waterfront
None
Sewer
Sewer
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