335-339 Barrie Street Kingston, ON K7K 2S9

Property Photo: 335-339 Barrie Street ON K7K 2S9

Listing Courtesy of: ITSO / Sutton Group-Masters Realty Inc Brokerage

335-339 Barrie Street Kingston, ON K7K 2S9

Active (50 Days)

$5,750,000

BED

BATH

10,883

SQFT

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Description

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.

MLS®:
40554248

Taxes
$33,674(2023)

Type
Multifamily

County
Frontenac County

Listed By

Peter Sauerbrei, Sutton Group-Masters Realty Inc Brokerage

Source
ITSO
Last checked May 3 2024 at 6:34 AM EDT

Bathroom Details

Interior Features

Dishwasher
Dryer
Refrigerator
Stove
Washer
Windows: Window Coverings
Separate Heating Controls
Microwave
Built-In Appliances
Built-In Microwave
Auto Garage Door Remote(s)
Laundry: In-Suite
Separate Hydro Meters

Lot Information

Schools
Shopping Nearby
Public Parking
City Lot
Public Transit
Rectangular
Park

Property Features

Foundation: Poured Concrete
Foundation: Slab

Heating and Cooling

Forced Air
Baseboard
Central Air

Exterior Features

Roof: Asphalt Shing
Roof: Membrane
Roof: Flat

Utility Information

Sewer: Sewer (Municipal)

Garage

Attached Garage

Parking

Attached Garage
Garage Door Opener
Exclusive
Total: 7
Assigned

Stories

Living Area

10,883 sqft

Additional Listing Info

Buyer Brokerage Commission: 2%

Location

Map View | Street View

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Disclaimer: Copyright 2024 ITSO. All rights reserved. This information is deemed reliable, but not guaranteed. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 5/2/24 23:34

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