Kingston, East of Sir John A. Blvd, K7K 3E5
$529,900
Listed by Rogers & Trainor Commercial Realty Inc., Brokerage.
Investment with 5.3% cap rate! Duplex located walking distance to Downtown Kingston & centrally located near parks, schools & public transport. Property consists of 2 large well-maintained residential dwellings. UNIT 1 is on the main level w/ private entrance on north side. This unit has 9 ft ceilings, large eat-in Kitchen, a huge 100 sq.ft Bathroom that could be converted to a bedroom, an oversized separate living room with lots of windows & a spacious bedroom. Unit 1 is +/- 900 sq. ft. UNIT 2 is located on the 2nd level w/ a private entrance off Bagot Street. This large & bright unit offers 2 spacious bedrooms, 1 Full Bath & a beautiful open-concept Kitchen/Living Room w/ gleaming hardwood flooring, updated Kitchen & large windows with views. Unit 2 is +/- 700 sq. ft w/ potential to create upper loft bed in attic. All tenancies are monthly. Separate laundry room (coin-operated) on lower level accessed from the back of property. Heating & Cooling is via Gas Furnace (2016) & Central A/C System (2016). Updated Plumbing, Electrical, Roof (Shingles & Metal) all 2016. Other updates include vinyl windows, cabinetry, appliances & more. INCOME: UNIT 1 @ $1306.87/month inclusive + 1 parking, UNIT 2 @ $1870.62/month inclusive + 1 parking. Laundry estimate $400/yr. Total Annual Income is $38,530. EXPENSES include $3914.89 Property Tax, $1,369 Insurance, $3960 Utilities & 4% Maintenance allocation of $1,525. Total expenses are $10,769/yr. NET INCOME is $27,761. Current market rents can generate +/- $33,000/yr. The property offers 3 parking spots w/ a right of way in favour of 616 Bagot (also for sale). Turnkey @ 5.3% cap w/ further growth @ market rents! This Property has the best cap rate for a Duplex in all of the Inner Harbour! That said, the property can also easily be converted to a single family home by opening 1 closed passageway within Unit 2’s entrance corridor. See virtual tour for more details. Or, live in one and rent the other – all units are well-sized!
Carbon Monoxide Detector,Hot Water Tank Owned,Smoke Detector,2xfridge, 2xstove
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