Rare above 5% cap turn-key legal Duplex in downtown Kingston with over $200k of improvements. Property consists of 2×3 Bedroom suites, fully leased to excellent tenants. Each suite consists of +/- 1000 sf spanning 2-levels, for a total of +/- 2000 sf of high-end dwelling space custom-built by a master carpenter approx. 5 years ago. Entire property was re-levelled, re-framed, taken back to the studs and re-built. Mechanical, electrical, plumbing and fire safety systems are all new – this property is fire-code and building-code compliant. New roof (front half), new gas boiler providing radiant heat, new windows, custom-built kitchens, custom-built stairs, new appliances and more – the list is endless. Each suite offers 1 full bath and in-suite laundry. The property offers 2 side-by-side parking spaces, fenced backyard, and is situated across the street from a new residential development where rents are in excess of $3000/month for similar 3-Bed suites. This property offers significant rental upside following tenant turnover, while offering worry-free ownership as everything is almost brand new. An excellent opportunity for investors or even for buyers wanting to live downtown in a spacious unit while benefitting from the rental income of a 2nd suite. A property worthy of use as a principal residence, 79 Elm is undoubtedly one of the most exceptional downtown investment properties to hit the market.