Last Sold Price
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Overview
Key Facts
Type Multi Family
Levels Residential Income
Size 2250 sqft
Garage
Taxes $5,731
Days Active 3
Lot Size
Approx. Age
Avg. Price Per Sqft $412
MLS® Number X13692602
Property Address: 380 Barrie St, Kingston, ON, K7K3T4
Average square foot calculated using Size range provided by listing agent.
Description
7.5 NET CAP RATE | $78, 000 GROSS ANNUAL INCOME | TURN-KEY DUPLEX. An exceptional investment opportunity offering a strong 7.5 net cap rate, this recently updated duplex generates $78, 000 in annual gross rental income and is ideally located just steps from the downtown core and within easy walking distance to Queen's University. Each spacious unit features four bedrooms, 2 full bathrooms, large principal rooms, and in-suite laundry, creating a highly desirable rental offering in a proven student and professional rental location. The well-maintained property offers parking for three vehicles, with additional upside potential through the future monetization of the parking spaces. New leases are in place through the end of April 2027(with the high possibility of both units renewing), providing investors with stable, secured income and immediate cash-flow potential. The current owners have enjoyed zero vacancy throughout their ownership, highlighting the property's strong tenant demand and desirable location. Additional recent improvements include a new roof installed in 2024. With a 7.5 NET CAP RATE, established rental income, secured tenancy, zero vacancy history, and further potential to increase future revenue, this is a compelling turn-key investment opportunity for investors seeking strong, reliable cash flow. Unit 1 $3200/month plus tenants pay for utilities, Unit 2 $3300/month and tenants pay for utilities. The sellers are currently in the process of installing a new sink and shower unit and new stackable washer/dryer in unit 1. (id:58753)Show Description
MLS® NumberX13692602
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age
Basement
Driveway
Garage Spaces
HeatBaseboard heaters
A/CNone
Extras
Price History
Appreciation
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Avg. Days Listed
62 days
Today, For Sale for $929,000
For Sale · 4 days
$929,000
MLS® X13692602
5 days ago
Not Sold Yet
August 2026, For Sale for $929,000
For Sale · 4 days
$929,000
MLS® X13692602
5 days ago
Not Sold Yet
June 2022, Expired for $985,000
Expired · 61 days
$985,000
MLS® 40233129
4 years ago
Canceled on Jun 1, 2022
Jun 1, 2022, Expired for $985,000
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