Well-located corner 5-plex in central Kingston offering reliable rental income with clear upside potential. Currently generating roughly $84,000 annually including laundry and parking income, with an estimated NOI around $64,000, representing a sub-5% cap rate (approximate). The property features five similar 2-bedroom units, each with a 4-piece bath, with three already updated and two offering future upside through improvements and rent growth. Situated on a corner lot with plenty of on-site parking, adding convenience for tenants and additional income potential. The building is well set up with separately metered hydro, 400 amp service, updated windows, radiant on-demand heating, owned hot water systems, and a roof replaced in 2015. Close to Queen's University and St. Lawrence College, with easy access to transit and everyday amenities, supporting consistent rental demand and long-term growth.
Address
1028 Johnson Street
List Price
$1,199,000
MLS® Status
Sold Conditional
Property Type
Residential Freehold
Type of Dwelling
Multiplex
Style of Home
2-Storey
Transaction Type
Sale
Area
Kingston
Sub-Area
18 - Central City West
Region
Frontenac
Bedrooms
10
Bedrooms (Total)
10
Rooms Above Grade
25
Bathrooms
5
Floor Area
2500-3000 Sq. Ft.
Lot Size Source
GeoWarehouse
Lot Depth
82
Lot Shape
Rectangular
Lot Size Range (Acres)
< .50
Lot Size Units
Feet
Lot Width
100
Parcel Number
360160116
Occupant Type
Tenant
Cross Street
Johnson St & Mowat Ave
Approx. Age
31 - 50 Years
MLS® Number
X13159956
Listing Brokerage
ROYAL LEPAGE REAL ESTATE SERVICES LTD.
| Royal Heritage Realty Ltd.
Basement Area
Apartment
Postal Code
K7M 2N4
Posession Details
Flexible
Parking
Private
Parking Places (Total)
10
Parking Spaces
10
Tax Amount
$7,293.00
Tax Year
2025
Interior Features
On Demand Water Heater, Separate Hydro Meter, Water Heater Owned
Central Vacuum
No
Family Room
No
Elevator
No
Ensuite Laundry
No
Special Designation
Unknown
Standard Status
Active Under Contract
Board Or Association
Toronto Regional Real Estate Board
Heat Source
Gas
Heat Type
Radiant
Cooling
No
Cooling Features
None
Construction Materials
Brick
Direction Faces
North
Fireplace
No
Foundation Details
Block
Garage
No
Garage Type
None
Kitchens Total
5
Kitchens Above Grade
5
Pool Features
None
Roof
Tar and Gravel
Tax Legal Description
PT PARKLT 8 BTN YONGE ST & MOWAT AV PL 54 KINGSTON CITY AS IN FR285613; KINGSTON ; THE COUNTY OF FRONTENAC
Waterfront
No
Waterfront
None
Sewer
Sewer
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