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New
1028 Johnson ST Kingston, ON K7M 2N4
10 Beds
5 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2500-3000
Subdivision 18 - Central City West
MLS Listing ID X13002212
Style 2-Storey
Bedrooms 10
Annual Tax Amount $7,293
Tax Year 2025
Property Sub-Type Multiplex
Property Description
Well-located corner 5-plex in central Kingston offering reliable rental income with clear upside potential. Currently generating roughly $84,000 annually including laundry and parking income, with an estimated NOI around $64,000, representing a sub-5% cap rate (approximate). The property features five similar 2-bedroom units, each with a 4-piece bath, with three already updated and two offering future upside through improvements and rent growth. Situated on a corner lot with plenty of on-site parking, adding convenience for tenants and additional income potential. The building is well set up with separately metered hydro, 400 amp service, updated windows, radiant on-demand heating, owned hot water systems, and a roof replaced in 2015. Close to Queen's University and St. Lawrence College, with easy access to transit and everyday amenities, supporting consistent rental demand and long-term growth.
Location
Province ON
County Frontenac
Area Frontenac
Zoning A2
Rooms
Basement Apartment
Kitchen 5
Interior
Interior Features On Demand Water Heater, Separate Hydro Meter, Water Heater Owned
Cooling None
Inclusions All existing appliances and ELFs, radiant heating systems, water tanks, on-demand hot water system, exterior garden shed
Exterior
Parking Features None
Pool None
Roof Type Tar and Gravel
Total Parking Spaces 10
Building
Building Age 31-50
Foundation Block
Lited by ROYAL LEPAGE REAL ESTATE SERVICES LTD.