Bedrooms: 18Bathrooms: 12Lot: 74 x 66 ft

335-339 Barrie Street
Kingston, ON K7K 2S9

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:47421)
Listed By Sutton Group-Masters Realty Inc Brokerage
Data Provided By Kingston & Area Real Estate Association
MLS® Listing Number 40554248
Last Updated Apr 02, 2024
Property Summary
Property Type Multiplex

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Subdivision 22 - East of Sir John A. Blvd
Price History

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Detailed Information
Bedrooms 18
Bathrooms 12
Lot 74 x 66 ft
Amenities Nearby Park, Public Transit, Schools, Shopping
Features Automatic Garage Door Opener
Listing Contract Date 2024-03-14
Location Description Princess St, left on Barrie St
Ownership Type Freehold
# of Parking Spaces 7
Property Type Multi-family
Transaction Type For sale
Zoning Description C1-27
Appliances Microwave, Microwave Built-in, Window Coverings, Garage door opener
Basement Type None
Cooling Type Central air conditioning
Exterior Finish Brick Veneer, Other, Shingles
Foundation Type Poured Concrete
Heating Type Baseboard heaters, Forced air
Stories Total 3
Utility Water Municipal water
Parking Spaces
Name Spaces
Attached Garage
Total Size under 1/2 acre
Access Type Road access
Amenities Park, Public Transit, Schools, Shopping
Sewer Municipal sewage system

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