$1,575,000

For sale

493 COLLEGE Street, Kingston (Central City East) - Multi-family for Sale

493 COLLEGE Street, Kingston (Central City East), Ontario, K7L4M8

11 beds4 baths6 parking2,250 ft²45 × 125 ft (5,625 sq ft) lot sizeListed 15 days ago

Overview

This multi-family property in Kingston is for sale offering roughly 2,250 sq ft of space. It has been on the market 15 days, fresher than the Kingston average of 61 days.

Multi-Family Properties for Sale in Kingston →All real estate in Kingston →

Description

Great income, bringing in $125,000 in annual rent. Fully renovated 4-plex in an amazing location close to Queen's University, St. Lawrence College and Teachers College. The main building has 3 spacious units with two 3-bedroom units, one 4-bedroom unit, and an additional 1-bedroom separate unit. This 4-plex has been renovated from top to bottom, with new kitchens, bathrooms, flooring, and new 400-AMP electrical and plumbing systems. Each unit has its own laundry. The basement unit and the separate unit are completely new. All units are currently rented at great market rent. Great returns on this property with minimal effort required, with no work at all to be done to this property for a long time. Total annual expenses for taxes, maintenance, property manager, utilities and insurance are $22,000. Schedule your private viewing today. (id:66096)

Property Details

MLS®: X14098082
Property Type: Multi-family
Zoning: A
Bedrooms: 11
Beds (above / below): 8 above · 3 below
Bathrooms: 4
Parking: 6
Interior Size: 2,250 ft²
Lot Size: 45 × 125 ft (5,625 sq ft)
Frontage: 45 ft
Storeys: 2
Basement: Finished, Full, Apartment in basement, N/A, N/A
Heating: Heat Pump, Forced air, Natural gas
Cooling: Central air conditioning
Garage: Detached Garage, Garage
Fireplace: Yes
Property Tax: $7,641.88/yr

Rooms

Main level

Kitchen: 4.17 x 2.41 meters
Living room: 5.14 x 3.65 meters
Kitchen: 2.12 x 4.23 meters
Dining room: 1.41 x 2.06 meters
Living room: 2.35 x 2.86 meters
Bathroom: 2.66 x 1.82 meters
Bedroom: 2.97 x 2.95 meters
Bathroom: 2.78 x 1.51 meters
Primary Bedroom: 4.15 x 3.31 meters
Bedroom 2: 3.79 x 3.31 meters
Bedroom 3: 2.98 x 2.59 meters

Features

Appliances: Washer, Refrigerator, Water meter, Dishwasher, Stove, Dryer, Microwave, Window Coverings, Water Heater
Foundation: Block
Exterior: Brick, Aluminum siding

Services

Water: Municipal water
Sewer: Sanitary sewer
Utilities: Sewer, Electricity, Cable

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

15d

Kingston (Central City East) listings, avg age

61d

Price / ft²

$700

List price

$1.57M

Homes here sell faster than most markets

Sold homes in this market spent an average of 36 days on the market over the past year, against a median of 48 days across the markets we publish.

Haho

This 11-bed multi-family in Kingston (Central City East) has been listed for 15 days, which is 46 days fresher than the city average of 61. Act while there is still low competition.

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Listed by EXP REALTY, BROKERAGE · PIERRE NADEAU

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (K7L)

This home lists at $1,575,000, about 21.7× the local median household income of $72,500.

Carrying it typically needs a household income of about $307,653 (20% down, 25-yr amortization, stress-tested) — roughly 324% above the area median.

Median household income: $72,500
Population: 19,621
Median age: 40
Owner / renter: 46% / 54%
Avg. household size: 2

Source: Statistics Canada, 2021 Census (FSA K7L)

$1,575,000· $700/ft²

For sale

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Full Cost Breakdown

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Down Payment20% · $315,000

Min 20%50%

Mortgage payment$6,717/mo

Property tax (est.)$637/mo

Total monthly$7,354

Cash Needed to Close

Down payment (20%)$315,000

Land transfer tax$27,975

Est. closing costs$7,225

Total cash needed$350,200

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