48 Stephen Street, Kingston, ON K7K 2C3
Kingston
Well-located 12-unit apartment building in Kingston's highly sought-after Inner Harbour District. The property generates a current NOI of $106,803 and is approximately 21% under-rented across the building, offering immediate and measurable upside through rent optimization. The building is in good overall condition, with several capital improvements already completed. Rents are inclusive, with landlord-paid utilities, creating potential for future expense optimization. On-site parking enhances tenant appeal and long-term stability. This asset qualifies for CMHC MLI-Select-style financing, making it an attractive opportunity for investors seeking leverage, income growth, and a strong downtown location with limited multi-residential supply. Full financials, rent roll, and supporting documentation are available in the data room. Serious buyers are encouraged to review the materials to fully understand the income upside and financing potential.
Estimate only - excludes property tax, condo fees, utilities and home insurance. Rates vary by lender and term; based on semi-annual compounding.
Walkability, transit, and bike-friendliness for 48 Stephen Street, Kingston, ON K7K 2C3
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MLS# X13228856
Listed by RE/MAX RISE EXECUTIVES, BROKERAGE
On market since Jun 2, 2026
48 Stephen Street, Kingston, ON K7K 2C3 is listed for $2,375,000 CAD.
48 Stephen Street, Kingston, ON K7K 2C3 is a Investment, 10,000 sq ft.
48 Stephen Street, Kingston, ON K7K 2C3 is in Kingston, Ontario.
48 Stephen Street, Kingston, ON K7K 2C3 is currently for sale.
Contact Avi Hayev at +16471112222 to arrange a private showing of 48 Stephen Street, Kingston, ON K7K 2C3 (MLS# X13228856). You can also send a message through the contact form on this site.
