Innovative Realty Inc.

Brokerage

Kannan Panchalingam

Direct : (647) 928-8889

kannanhomes@yahoo.com

138 Chatham Street, Kingston, ON K7K 4H4 (Pine & Hamilton)
$ 775000 - MLS : X13126954

From Our Gallery

Description

Excellent investment opportunity in the heart of Kingston, approximately a 15-minute walk from Queen's University and close to major bus routes. Located just north of Princess Street, this detached 6-bedroom duplex is a strong addition to any investment portfolio. The main unit offers 5 bedrooms across two levels, 2 full bathrooms, a spacious living room, and a large eat-in kitchen with updated flooring. A major bonus is the additional bachelor apartment, providing an extra income stream. Both units are separately metered and share access to on-site laundry. 2 parking spots are available to rent for additional income too. Generating $66,000 in gross annual income, this property offers an impressive cap rate of over 7.5%. Major updates include a roof replacement in 2023 and vinyl windows throughout. A proven income generator with strong rental demand, the property is currently leased until April 30th, 2027. The bachelor apartment is currently rented below market value, presenting excellent future upside potential.

Location Description

Pine & Hamilton

Property Detail

Community: 22 - East of Sir John A. Blvd
Property Type: Tenant/Residential Freehold
Bedrooms: 6
Bath: 3
Garages: None
Annual Property Taxes : $ 4935

Lot dimensions: sqft
Baths:

Facts and Features

Foundation Type: Concrete
Counstruction Material : Vinyl Siding
Total Parking Space : 2
Parking Type : None

Amenities

Heating : Forced AirGas
Sewer : Sewer ,

Listing Contracted With: ONE PERCENT REALTY LTD.

Kannan Panchalingam

Sales Representative

( 5 Reviews )

While I like to think that real estate is in my blood, shameless self-promotion is not. Unfortunately, that's part of the business so here's the painful bit about who I am and what makes me tick. The Toronto region has been my home all my life, and I love this area.

kannanhomes@yahoo.com

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