423 Palace Road Kingston, Ontario K7L 4T5
$974,999
Sellers Overview: Williamsville, Kingston legal triplex with rental agreements in place. August rents: 2400+2500+2620 a month = $7,520. Fully furnished units, this 2x2br, 1x1br has a near zero vacancy rate due to its proximity to Queens and hospitals. Frequently rented by physicians, foreign grad students and post-doc students. Turn key operation showing an attractive 7.9% cap rate. Has been managed nearly exclusively online with tools available and offers self-check-in with keyless locks, making this investment perfect for an investor looking to DIY it, but not so much in person, to keep overhead costs down. A solar hot water heater, vinyl windows and upgraded insulation, means the utility bills are much lower than you’d expect. Numerous upgrades have been done. Low maintenance inside and out. Present owner has a housekeeper and inexpensive lawn and snow services in place, that are transferable if you wish. Typical tenancies are 1 yr or so, allowing for rent increases annually to keep pace with the rising market prices. (id:28880)
Property Details
| MLS® Number | 40507377 |
| Property Type | Single Family |
| Parking Space Total | 4 |
Building
| Bathroom Total | 3 |
| Bedrooms Above Ground | 3 |
| Bedrooms Below Ground | 2 |
| Bedrooms Total | 5 |
| Architectural Style | 2 Level |
| Basement Development | Finished |
| Basement Type | Full (finished) |
| Construction Style Attachment | Detached |
| Cooling Type | Central Air Conditioning |
| Exterior Finish | Vinyl Siding |
| Fire Protection | Smoke Detectors |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Interior | 2000 |
| Type | House |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Sewer | Municipal Sewage System |
| Size Depth | 135 Ft |
| Size Frontage | 50 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | Ur5 |
Rooms
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Second Level | 4pc Bathroom | Measurements not available | ||
| Second Level | Kitchen/dining Room | 11'8'' x 13'9'' | ||
| Second Level | Living Room | 11'5'' x 16'4'' | ||
| Second Level | Bedroom | 11'4'' x 16'4'' | ||
| Lower Level | Foyer | 7'4'' x 9'6'' | ||
| Lower Level | Laundry Room | 5'6'' x 8'6'' | ||
| Lower Level | 4pc Bathroom | 5'4'' x 6'8'' | ||
| Lower Level | Kitchen | 10'10'' x 10'1'' | ||
| Lower Level | Living Room | 13'9'' x 14'0'' | ||
| Lower Level | Bedroom | 11'2'' x 19'4'' | ||
| Lower Level | Bedroom | 13'2'' x 9'2'' | ||
| Main Level | 4pc Bathroom | Measurements not available | ||
| Main Level | Dining Room | 1'9'' x 15'4'' | ||
| Main Level | Living Room | 14'8'' x 10'8'' | ||
| Main Level | Kitchen | 11'5'' x 9'10'' | ||
| Main Level | Bedroom | 15'0'' x 11'1'' | ||
| Main Level | Bedroom | 11'7'' x 19'10'' |
https://www.realtor.ca/real-estate/26234160/423-palace-road-kingston
Interested?
Contact us for more information
Norm Pengelly
Salesperson
https://www.remaxrise.com/
110-623 Fortune Cres
Kingston, Ontario K7P 0L5
(613) 546-4208
https://www.remaxrise.com/
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November 01 2023 03:16:25
Kingston & Area Real Estate Association
RE/MAX Rise Executives, Brokerage