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442 MACDONNELL STREET, Kingston (Central City East) — listed at $2,375,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
Prime investment opportunity in Central Kingston! This solid, fully-brick 12-unit residential building features a turn-key mix of 6 one-bedroom units and 6 efficient bachelor units. Situated in a high-demand location with easy transit access to downtown amenities and post-secondary institutions. Strong Revenue Stream: Generating a solid $186600 in gross annual rent, plus extra income from the onsite coin-operated laundry and 3 dedicated outdoor parking spaces. Current Rent is 12% below market across the building, with room to improve. Low Owner Capital Expenditure: New roof replaced 2 years ago, offering low maintenance risk for years to come.Minimal Utility Costs: Each unit is individually metered for hydro, drastically keeping landlord utility expenses low. Key Features: Carpet-free building interior, exterior lighting, updated fire protection system, and select units with cozy gas fireplaces. An exceptionally stable, low-maintenance multi-family asset offering strong cash flow with reliable upside. CMHC Mortgage is transferable with certain conditions. The Loan loan term ends in 2029 (id:60164)
Is there air conditioning?+
No central cooling is listed. Budget for portable or window units, or get a quote for adding central air — typically $5,000–$10,000 installed.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $20,636, heating is baseboard heaters. Always verify the latest figures with your agent before making an offer — these change yearly.
What makes this a luxury property?+
At $2,375,000, standout features include 1884 sq ft. In this price range, expect higher-end finishes — verify during a showing.
How is the home heated? Is it efficient?+
Heating is baseboard heaters. Ask for past utility bills to understand real heating costs.
What's the parking situation?+
This property includes 3 spaces.
Who is 442 MACDONNELL STREET best suited for?+
With null bedrooms, this is ideal for a couple, a small family, or as a low-maintenance investment property.
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