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105 Cherry Street

$ 2,100,000
105 Cherry Street,
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869

Twenty (20) Unit Apartment Building for sale on Cherry Street. Solid concrete and construction with brick exterior. Suite mix includes 1 x bachelor, 9 x 2-Bed, 7 x 3-Bed, 3 x 4-Bed for a total of 20 Units and 52 Bedrooms. Units are over-sized, carpet-free with high ceilings and large windows, featuring living room, kitchen and dining area, 4-PC bath & separately metered for heat/hydro. Common laundry and ample parking on site with extra space to increase revenue. Lower level consists of 1xbach, 3x2bed, 1x3bed, common laundry, mechanical room, elec room, and a 600 sf private workshop. Second, Third and Fourth levels each have 2x2bed, 2x3bed, 1×4 bed suites. Large lot w/ newer 16×32 ft detached garage (metal roof) and sep. storage shed. The property is secured w/ intercom remote entry system & professionally managed w/ on-site superintendent. Flat roof w/ membrane cover. Located at the end of Cherry Street adjacent to a school within a predominantly single-family residential neighborhood, the property benefits from increased privacy and minimal volume of both pedestrian and vehicular traffic, and is walking distance to downtown Kingston, Queen’s University, Grocery Stores, and more. Property represents a rare value-add investment due to current below-market rent structures and operational upside opportunity, offering significant upside in projected yearly NOI.

Documents
Address: 105 Cherry Street
City:
Zip: K7K 3W7
Country: Canada
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Website ID: 27345
Price: $ 2,100,000
Property Size: 17,095 ft2
MLS: K20006960
Parking: Paved Lot
Zoning: A
Realty Taxes: $41,661.39 (2020)
walkscore66 / Somewhat Walkable more details here

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