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423 Palace Road, Kingston, Ontario K7L 4T5 (26234161)


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423 Palace Road Kingston, Ontario K7L 4T5

5 Bedroom 3 Bathroom 2000
Central Air Conditioning Forced Air

$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:25832)

Property Details

MLS® Number 40507369
Property Type Multi-family
Parking Space Total 4

Building

Bathroom Total 3
Bedrooms Total 5
Basement Development Finished
Basement Type Full (finished)
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 Triplex
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

https://www.realtor.ca/real-estate/26234161/423-palace-road-kingston

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Norm Pengelly
Salesperson

(613) 532-2244
https://www.remaxrise.com/

RE/MAX Rise Executives, Brokerage
110-623 Fortune Cres
Kingston, Ontario K7P 0L5

(613) 546-4208
https://www.remaxrise.com/

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Peggy Cruickshank | REMAX Agent

peggy cruickshank kingston real estate
Cheo Foundation

A portion of every commission is gifted to my family's favourite charity -- the Children's Charity Network.