Welcome to 79-81 Queen Street, a historic gem in the heart of downtown Kingston. Built in 1840, this stately limestone building combines timeless charm with modern amenities, making it a standout investment opportunity. The property features limestone construction with exposed brick interiors that exude character and tenants love. Located in Kingston's vibrant downtown core, it has so many amenities within easy walking distance including the waterfront, Queens University, Kingston General Hospital, and an incredible number of shops, restaurants, and cultural attractions. This turnkey investment offers four residential units, all separately metered to ensure low operating costs. Each unit includes appliances, with two featuring dishwashers and one equipped with laundry as well. The property has a history of being fully rented with no vacancies, highlighting its strong rental demand. Additionally, 10 coveted parking spots generate an extra $1,000 per month. There is also room for expansion on the large lot, offering opportunities to add to this property. With easy cosmetic renovations, the units themselves have significant potential for increased revenue, adding even more value to this already attractive investment. Current rents include Unit 79-1 $1,400/month (Oct 2024 - Sep 2025), Unit 79-2 $1,800/month (May 2024 - Apr 2025), Unit 81-1 $1,691/month (month-to-month), and Unit 81-2 $1,800/month (Jul 2024 - Jun 2025). Combined with the parking income, the property currently has a gross annual income of $92,292 and a net operating income of $67,561. With its unbeatable location, solid income stream, and historic charm, 79-81 Queen Street offers a rare opportunity to own a piece of Kingston's heritage while enjoying a lucrative, low-maintenance investment. (id:48744)
| MLS® Number | X12250748 |
| Property Type | Multi-family |
| Community Name | 22 - East of Sir John A. Blvd |
| AmenitiesNearBy | Hospital, Park, Place Of Worship, Public Transit, Schools |
| EquipmentType | None |
| Features | Lane, Carpet Free |
| ParkingSpaceTotal | 10 |
| RentalEquipmentType | None |
| ViewType | City View |
| BathroomTotal | 4 |
| BedroomsAboveGround | 2 |
| BedroomsBelowGround | 3 |
| BedroomsTotal | 5 |
| Age | 100+ Years |
| Amenities | Separate Electricity Meters |
| Appliances | Water Heater, Dishwasher, Dryer, Hood Fan, Stove, Washer, Refrigerator |
| BasementFeatures | Apartment In Basement, Separate Entrance |
| BasementType | N/a |
| CoolingType | Window Air Conditioner |
| ExteriorFinish | Stone |
| FoundationType | Stone |
| HeatingFuel | Electric |
| HeatingType | Baseboard Heaters |
| StoriesTotal | 3 |
| SizeInterior | 3000 - 3500 Sqft |
| Type | Fourplex |
| UtilityWater | Municipal Water |
| No Garage |
| Acreage | No |
| LandAmenities | Hospital, Park, Place Of Worship, Public Transit, Schools |
| Sewer | Sanitary Sewer |
| SizeDepth | 132 Ft |
| SizeFrontage | 34 Ft |
| SizeIrregular | 34 X 132 Ft |
| SizeTotalText | 34 X 132 Ft|under 1/2 Acre |
| ZoningDescription | Dt1 |
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Second Level | Kitchen | 2.72 m | 3.71 m | 2.72 m x 3.71 m |
| Second Level | Living Room | 2.9 m | 4.62 m | 2.9 m x 4.62 m |
| Third Level | Bedroom | 2.77 m | 4.45 m | 2.77 m x 4.45 m |
| Third Level | Bedroom | 4.57 m | 3.71 m | 4.57 m x 3.71 m |
| Basement | Bedroom | 4.1 m | 3.51 m | 4.1 m x 3.51 m |
| Basement | Bedroom | 3.12 m | 3.28 m | 3.12 m x 3.28 m |
| Basement | Bedroom | 2.31 m | 3.63 m | 2.31 m x 3.63 m |
| Main Level | Kitchen | 3.58 m | 2.95 m | 3.58 m x 2.95 m |
| Main Level | Living Room | 3.58 m | 3.36 m | 3.58 m x 3.36 m |
| Main Level | Kitchen | 3.38 m | 3.45 m | 3.38 m x 3.45 m |
| Main Level | Living Room | 3.33 m | 4.72 m | 3.33 m x 4.72 m |
| Cable | Installed |
| Electricity | Installed |
| Sewer | Installed |
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Not intended to solicit buyers or sellers currently under contract. © 2021 | Sold by Cheryl | Built with Love by Aaru Canada
