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185-187 Montreal St.

$ 599,000
185-187 Montreal St.,
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Beautifully upgraded Duplex centrally located in Kingston’s sought-after Inner Harbour neighbourhood, walking distance to the historic Downtown core, Lake Ontario trails, Queen’s University, and trendy Artisanal Restaurants & Cafes. This Side-by-Side Duplex sits on a corner lot & offers the equivalent of Two (2) Semi-Detached properties on one lot, both 185 & 187 Montreal being mirror-images of one another. SEVERANCE: Each side features its own dedicated Furnace (new), A/C Unit (new), and Water Heater (new) all separately metered (2xWater, 2xHydro, 2xGas), offering potential severance opportunity to create 2 separately deeded properties for future value-add. UPGRADES: The entire property benefits from a full interior upgrade (2019/2020), all taken back to the studs and re-built brand new, with original hardwood flooring preserved & revitalized. NEW – Insulation, Drywall, Paint, Custom Kitchen, all Appliances (Stainless Steel: fridge x 2, dishwasher x 2, Stove x 2, Laundry Units x 2), Bathrooms (Tub, Vanity, all fixtures), Bedrooms, Finished 3rd Floor Den/Bedroom, Doors, Trim, and Exterior Landscaping & more. Upgrades performed in 2012 include Windows, Siding and Roof – all in great condition. SUITES & INVESTMENT PROSPECTUS: Each side offers 3 Bedrooms, 1 Full Bath, Living Room, Dining Room, Kitchen, Foyer, Separate Entrances, along w/ dedicated Parking on-site. 185 Montreal has been left Vacant to accommodate future owner occupation. Market rent is +/- $2400 + Utilities (each side). 187 Montreal is leased at $1,801.36/month + Utilities to excellent Tenants on a month-to-month basis. In-place Gross Revenue (w/ 185 MTL@ market rent; 187 MTL as-existing) = $50,416/yr. Gross Revenue at Market Rents = +/-$57,600 with rates projected to increase as rental demand growth continues w/in the inner Harbour. An excellent opportunity for the pure investor or a Buyer wanting to live in one side while renting the other.

Address: 185-187 Montreal St.
Country: Canada
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Website ID: 29876
Price: $ 599,000
MLS: 40237988
Zoning: A
Realty Taxes: $4001.00
Legal Description: PLAN B6 PT LOT 3 B 87
walkscore56 / Somewhat Walkable more details here

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