493 College Street Kingston, Ontario K7L 4M8
11 Bedroom
4 Bathroom
2,000 - 2,500 ft2
Fireplace
Central Air Conditioning
Forced Air
$1,649,000
Outstanding Income Opportunity! This fully renovated four-plex offers an impressive $132,000 annual income and a 6.7% cap rate; truly turnkey with nothing left to do. Ideally located between Queen's University, St. Lawrence College, and the Teachers' College, this property attracts quality tenants and ensures consistent returns. The building has been completely redone from top to bottom, featuring a 400-AMP electrical service, new plumbing, a brand-new lower-level 3-bedroom apartment, updated kitchens, bathrooms, and flooring, plus an Accessory Dwelling Unit (ADU) for added versatility. Financial highlights include: gross Income $132,000, operating expenses $20,745 (taxes: $6,068, utilities $3,000, maintenance $2,400, management $5,280, insurance $3,997); and net operating income $111,255. A solid, well-managed investment in a prime central location - modern, efficient, and fully rented with great tenants. This is the ideal hands-off income property you've been looking for. Schedule your private viewing today. (id:15069)
Property Details
| MLS® Number | X12544210 |
| Property Type | Multi-family |
| Community Name | 14 - Central City East |
| Amenities Near By | Public Transit |
| Parking Space Total | 4 |
Building
| Bathroom Total | 4 |
| Bedrooms Above Ground | 8 |
| Bedrooms Below Ground | 3 |
| Bedrooms Total | 11 |
| Age | 51 To 99 Years |
| Amenities | Fireplace(s) |
| Appliances | Water Heater, Dishwasher, Dryer, Microwave, Stove, Washer, Window Coverings, Refrigerator |
| Basement Development | Finished |
| Basement Type | Full (finished) |
| Cooling Type | Central Air Conditioning |
| Exterior Finish | Brick, Vinyl Siding |
| Fire Protection | Smoke Detectors |
| Fireplace Present | Yes |
| Foundation Type | Block |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Interior | 2,000 - 2,500 Ft2 |
| Type | Other |
| Utility Water | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| Land Amenities | Public Transit |
| Sewer | Sanitary Sewer |
| Size Depth | 125 Ft |
| Size Frontage | 45 Ft |
| Size Irregular | 45 X 125 Ft |
| Size Total Text | 45 X 125 Ft|under 1/2 Acre |
| Zoning Description | A |
Rooms
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Second Level | Primary Bedroom | 4.17 m | 4.4 m | 4.17 m x 4.4 m |
| Second Level | Bedroom 2 | 3.8 m | 3.33 m | 3.8 m x 3.33 m |
| Second Level | Bedroom 3 | 4.15 m | 2.97 m | 4.15 m x 2.97 m |
| Second Level | Kitchen | 3.8 m | 3.16 m | 3.8 m x 3.16 m |
| Second Level | Living Room | 5.35 m | 3.62 m | 5.35 m x 3.62 m |
| Second Level | Bathroom | 2.7 m | 1.81 m | 2.7 m x 1.81 m |
| Basement | Kitchen | 1.56 m | 5 m | 1.56 m x 5 m |
| Basement | Dining Room | 2.18 m | 1.66 m | 2.18 m x 1.66 m |
| Basement | Living Room | 3.91 m | 6.83 m | 3.91 m x 6.83 m |
| Basement | Bathroom | 2.14 m | 1.5 m | 2.14 m x 1.5 m |
| Basement | Primary Bedroom | 3.79 m | 3.54 m | 3.79 m x 3.54 m |
| Basement | Bedroom 2 | 3.79 m | 3.07 m | 3.79 m x 3.07 m |
| Basement | Bedroom 3 | 3.79 m | 2.7 m | 3.79 m x 2.7 m |
| Main Level | Kitchen | 4.17 m | 2.41 m | 4.17 m x 2.41 m |
| Main Level | Living Room | 5.14 m | 3.65 m | 5.14 m x 3.65 m |
| Main Level | Kitchen | 2.12 m | 4.23 m | 2.12 m x 4.23 m |
| Main Level | Dining Room | 1.41 m | 2.06 m | 1.41 m x 2.06 m |
| Main Level | Living Room | 2.35 m | 2.86 m | 2.35 m x 2.86 m |
| Main Level | Bedroom | 2.97 m | 2.95 m | 2.97 m x 2.95 m |
| Main Level | Bathroom | 2.78 m | 1.51 m | 2.78 m x 1.51 m |
| Main Level | Bathroom | 2.66 m | 1.82 m | 2.66 m x 1.82 m |
| Main Level | Primary Bedroom | 4.15 m | 3.31 m | 4.15 m x 3.31 m |
| Main Level | Bedroom 2 | 3.79 m | 3.31 m | 3.79 m x 3.31 m |
| Main Level | Bedroom 3 | 2.98 m | 2.59 m | 2.98 m x 2.59 m |
| Main Level | Bedroom 4 | 3.76 m | 3.19 m | 3.76 m x 3.19 m |
Utilities
| Cable | Available |
| Electricity | Installed |
| Sewer | Installed |
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November 14 2025 09:21:26
Kingston & Area Real Estate Association
Exp Realty, Brokerage