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
Commercial
Type of Dwelling
Investment
Transaction Type
Sale
Area
Kingston
Sub-Area
22 - East of Sir John A. Blvd
Region
Frontenac
Bedrooms (Total)
4
Rooms (Total)
13
Lot Depth
100
Lot Type
Lot
Lot Size Units
Feet
Lot Width
25
Parcel Number
360510164
Total Building Area
248
Occupant Type
Tenant
Cross Street
Division between Pine and Quebec
MLS® Number
X12615772
Listing Brokerage
RE/MAX RISE EXECUTIVES, BROKERAGE
Basement
Yes
Postal Code
K7K 4A2
Posession Details
Immediate
Parking Spaces
3
Tax Amount
$4,568.02
Tax Year
2024
Standard Status
Active
Board Or Association
Kingston & Area Real Estate Association
Heat Type
Gas Forced Air Open
Cooling
No
Cooling Features
No
New Construction
No
Garage Type
None
Kitchens Total
3
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
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