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$929,000
Est. payment /mo
8 Beds
4 Baths
2,000 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2000 - 2500
Square Footage 2,000 sqft
Price per Sqft $464
Subdivision 22 - East Of Sir John A. Blvd
MLS® Listing ID X13681744
Bedrooms 8
Half Baths 1
Property Description
7.5 NET CAP RATE | $78,000 GROSS ANNUAL INCOME | TURN-KEY DUPLEX. An exceptional investment opportunity offering a strong 7.5 net cap rate, this recently updated duplex generates $78,000 in annual gross rental income and is ideally located just steps from the downtown core and within easy walking distance to Queen's University. Each spacious unit features four bedrooms, large principal rooms, and in-suite laundry, creating a highly desirable rental offering in a proven student and professional rental location. The well-maintained property offers parking for three vehicles, with additional upside potential through the monetization of the parking spaces. New leases are in place through the end of April 2027(with the high possibility of both units renewing), providing investors with stable, secured income and immediate cash-flow potential. The current owners have enjoyed zero vacancy throughout their ownership, highlighting the property's strong tenant demand and desirable location. Additional recent improvements include a new roof installed in 2024. With a 7.5 NET CAP RATE, established rental income, secured tenancy, zero vacancy history, and further potential to increase revenue, this is a compelling turn-key investment opportunity for investors seeking strong, reliable cash flow. Unit 1 $3200/month plus tenants pay for utilities, Unit 2 $3300/month and tenants pay for utilities. (id:24570)
Location
Province ON
Rooms
Kitchen 2.0
Extra Room 1 Second level 4.32 m X 3.35 m Kitchen
Extra Room 2 Second level 14.17 m X 11.75 m Living room
Extra Room 3 Second level 2.74 m X 4.27 m Bedroom
Extra Room 4 Second level 2.74 m X 3.96 m Bedroom 2
Extra Room 5 Second level 2.67 m X 3.02 m Bedroom 3
Extra Room 6 Second level 2.95 m X 3.02 m Bedroom 4
Interior
Heating Baseboard heaters
Cooling None
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 3
Garage No
Private Pool No
Building
Story 2
Sewer Sanitary sewer
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Listed by SUTTON GROUP-MASTERS REALTY INC., BROKERAGE
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