Lisa Maisonneuve - Coldwell Banker Momentum Logo
$2,375,000
( $237.50Per Sq Foot )
 $12,750 est/mo Sourced by Back At You

48 Stephen Street,Kingston, ON K7K 2C3

Kingston, ON K7K 2C3

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Description

Well-located 12-unit apartment building in Kingston's highly sought-after Inner Harbour District. The property generates a current NOI of $106,803 and is approximately 21% under-rented across the building, offering immediate and measurable upside through rent optimization. The building is in good overall condition, with several capital improvements already completed. Rents are inclusive, with landlord-paid utilities, creating potential for future expense optimization. On-site parking enhances tenant appeal and long-term stability. This asset qualifies for CMHC MLI-Select-style financing, making it an attractive opportunity for investors seeking leverage, income growth, and a strong downtown location with limited multi-residential supply. Full financials, rent roll, and supporting documentation are available in the data room. Serious buyers are encouraged to review the materials to fully understand the income upside and financing potential.

Details

MLS #X13228856
Listing TypeFor Sale
Sub-TypeResale
StatusNew
Year0
Days On Site134
Listing Provided ByRE/MAX RISE EXECUTIVES, BROKERAGE | X13228856 470700

Features

SQ Feet10,000
Acreage0.23

Interior

CoolingNo

Utilities

UtilitiesYes
SewerSanitary

Taxes

Tax Annual Amount24831.39
Tax TypeAnnual
Tax Legal DescriptionPT FARM LT 1 CON WGCR KINGSTON AS IN FR202120; KINGSTON ; THE COUNTY OF FRONTENAC
Tax Year2025

Area Information

ProvinceON
RegionFrontenac
CityKingston
Postal CodeK7K 2C3
Area22 East of Sir John A. Blvd
Listing VS Median (in K7K 2C3)
Price:
$2,375,000
low | high
Med:
$2,375,000
50% of Average
sqft:
10,000
low | high
Med:
10,000
50% of Average
$ / sqft:
$238
low | high
Med:
$238
50% of Average
On site:
134
low | high
Med:
134
100% of Average
Sourced by Back At You

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Additional Information

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Learn More About This Property

Lisa Maisonneuve

Lisa Maisonneuve

Momentum Realty

Sales Representative (905) 931-3866lisam@momentumrealty.ca
ProvinceON
RegionFrontenac
CityKingston
Postal CodeK7K 2C3
Area22 East of Sir John A. Blvd
Listing VS Median (in K7K 2C3)
Price:
$2,375,000
low | high
Med:
$2,375,000
50% of Average
sqft:
10,000
low | high
Med:
10,000
50% of Average
$ / sqft:
$238
low | high
Med:
$238
50% of Average
On site:
134
low | high
Med:
134
100% of Average
Sourced by Back At You
Listing Updated: September 29, 2026 at 11:21:01 PM PDT

Lisa Maisonneuve - Coldwell Banker Momentum