$2,375,000
FOR SALE

Multiplex

Lot: 57.67 x 141.17 ft

48 Stephen Street
Kingston (East Of Sir John A. Blvd), ON K7K 2C3

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. (id:47421)
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Listed By RE/MAX RISE EXECUTIVES, Brokerage
Data Provided By Kingston & Area Real Estate Association
MLS® Listing Number X12703412
Last Updated Apr 29, 2026
Property Summary
Property Type Multiplex

More like this:
Use Apartments
Community 22 - East of Sir John A. Blvd
Price History

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Detailed Information
Lot 57.67 x 141.17 ft
Listing Contract Date 2026-01-16
Location Description Cross Streets: Stephen St and Montreal St. ** Directions: Montreal or Division St to Stephen St.
Property Type Multi-family
Transaction Type For sale
Zoning Description UR5
Business
Business Type Residential
Business Subtype Apartments
Building
Cooling Type None
Heating Fuel Natural gas
Heating Type Hot water radiator heat, Radiator
Type Multi-Family
Utility Water Municipal water
Land
Total Size 57.72 x 141.18 FT
Sewer Sanitary sewer
Size of Irregular Land 57.72 x 141.18 FT

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The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose.

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