Fourteen (14) Suite Multi-Residential Portfolio Opportunity spanning an entire block on Quebec Street, in high-demand predominantly single family residential neighbourhood.
- 86-88 Quebec consists of 1x1Bed , 1x1Bed+Den & 2x 2 Bed for a total of 4 units, 4 Kitchens, 4 Baths and 6 Bdrms.
- 90-92 Quebec consists of 2x 1Bed+Den & 2 x 2 Bed units for a total of 4 units, 4 Kitchens, 4 Baths and 6 Bedrooms. All 1-beds are on the main level w/ 2 access points, and all 2-Bed units are on the upper level & feature a balcony off of a eat-in Kitchen. Roof is metal.
- 94 Quebec is a detached duplex consisting of 1 x 1 Bed + Den & 1 x 2 Bed for a total of 3 Bedrooms & 2 Kitchens. Asphalt shingle roof (2016).
- 98 Quebec is a 4-plex offer 4×2 Bed suites. Asphalt shingle roof (2012).
The properties spanning 86-92 Quebec are all separately metered for hydro, water/waste, and gas. Tenant’s pay all utility costs including heat, water/sewer and hydro except for Unit 1-86 Quebec (inclusive) & Unit 2-86 Quebec (LL pays heat only). The properties spanning 94-98 Quebec are all sep. metered with all utilities paid by tenants. Annual utility cost is approx $3600 total for all properties. The row of dwellings also benefit from a self-contained coin-operated laundry room and 12 on-site parking spaces for additional income. Property is located in close proximity to a bus route & is walking distance to Queen’s University, Downtown Kingston, Grocery Stores, schools and public parks. Property represents a rare value-add investment offering significant upside opportunities on rental income. Current gross rental income is $183,288 + $5,400 parking potential. Total expenses approx $46,000. In-place cap +/- 5%. Market cap +6%.