49-67 Adelaide Street, Kingston, ON K7K 1Y3 (Division Street & Adelaide Street)

Price : $3,199,900.00 , MLS®# : X13467366

Description

An excellent opportunity to acquire a 10 unit townhouse complex positioned on the outskirts of Downtown Kingston, offering strong income, functional layouts & long term investment appeal. The property is comprised of 10 attached townhouse units with a mix of 2 & 3 bedroom layouts, each featuring its own private walk-out basement, with 6 units also offering decks off the living room. Six of the ten units have been renovated, creating a strong blend of updated interiors with continued upside potential across the remaining units. The property is designed for efficient ownership, with all units separately metered, tenants paying their own utilities, & each unit equipped with its own forced air gas furnace & hot water tank. Additional highlights include a massive parking lot & a 12 ft x 27 ft storage shed. Based on the current rent roll & expenses, the property offers an approximate current Cap Rate of 5.24%, with a projected Cap Rate of approximately 5.37% based on scheduled 2026 rent increases. With townhouse-style units, tenant-paid utilities, individual mechanical systems, strong parking & close proximity to Downtown Kingston & public transit, this is a compelling income-producing property with excellent operational fundamentals.

Location Description

Division Street & Adelaide Street

Property Details
  • Community: 22 - East of Sir John A. Blvd
  • Property Type: Tenant/Commercial
  • Bath: 12
  • Garages: None
  • Annual Property Taxes : $ 20682.72
Building Features
  • Parking Type : None
Building Features
  • Heating : Gas Forced Air Closed
Land (Lot Features)
  • Frontage: 132 sq.ft
  • Land Depth: 165sq.ft

Listing Contracted With: ROYAL LEPAGE PROALLIANCE REALTY, BROKERAGE