423 Palace Road Kingston, Ontario K7L 4T5
$974,995
This property checks all the boxes. Are you a parent looking to house your son or daughter at Queens—want to have it paid for? Then this property is for you. Or are you a savvy investor that just wants great returns and a solid investment—we have you covered! Don't be deceived by its modest exterior—423 Palace Road is a fully furnished, turn-key, high performing investment. This property is larger than it looks due to a large addition at the rear. Discover 423 Palace Road—an exceptional, well-maintained legal 3-unit property in the heart of the City. With two 2-bedroom units, one 1-bedroom unit, and close proximity to Queen's University, hospitals, and public transit, it appeals to mature tenants and professionals. Standout features include a 100-gallon owned solar hot water heater, energy-efficient vinyl windows, and upgraded insulation for reduced operational costs. Offering an attractive income stream and with a sought after short-term rental rating, it's ideal for long-term tenants and Airbnb ventures. Don't miss this opportunity with a 7.07% CAP Rate and a projected 6.71% ROI. and with 0% vacancy and Fully leased until 2025 (id:28880)
Property Details
| MLS® Number | 40572564 |
| Property Type | Multi-family |
| Amenities Near By | Park, Place Of Worship, Playground, Public Transit, Schools, Shopping |
| Community Features | High Traffic Area, School Bus |
| Features | Paved Driveway |
| Parking Space Total | 4 |
| Structure | Porch |
Building
| Bathroom Total | 3 |
| Bedrooms Total | 5 |
| Appliances | Microwave Built-in |
| Basement Development | Finished |
| Basement Type | Full (finished) |
| Cooling Type | Central Air Conditioning |
| Exterior Finish | Vinyl Siding |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Interior | 2000 |
| Type | Triplex |
| Utility Water | Municipal Water |
Land
| Access Type | Road Access |
| Acreage | No |
| Land Amenities | Park, Place Of Worship, Playground, Public Transit, Schools, Shopping |
| Sewer | Municipal Sewage System |
| Size Depth | 135 Ft |
| Size Frontage | 50 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | Ur5 |
https://www.realtor.ca/real-estate/26763321/423-palace-road-kingston
Interested?
Contact us for more information
Luca Andolfatto
Broker
www.theagents.ca/
821 Blackburn Mews
Kingston, Ontario K7P 2N6
(613) 766-7650
www.remaxservicefirst.com/
Nick Kirkpatrick
Salesperson
www.theagents.ca/
821 Blackburn Mews
Kingston, Ontario K7P 2N6
(613) 766-7650
www.remaxservicefirst.com/
Drew Mayhew
Salesperson
www.theagents.ca/
821 Blackburn Mews
Kingston, Ontario K7P 2N6
(613) 766-7650
www.remaxservicefirst.com/
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April 29 2024 06:27:14
Kingston & Area Real Estate Association
RE/MAX Service First Realty Inc, Brokerage