10
$2,375,000 Sale
Listed 133 days ago
48 Stephen Street
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Listing History
Buy/Sell/Terminated/Expired listing history for 48 Stephen Street
Key Facts
Key facts for 48 Stephen Street
Property Type
Commercial
Parking
None
MLS #
X13228856
Size
-
Basement
-
Listed on
2026-06-02
Lot size
58 x 141.18
Tax
$24,831.39 /yr
Days on Market
133
Approximate Age
-
Maintenance Fee
-
Description
Well-located 12-unit apartment building in Kingston's highly sought-after Inner Harbour District. The property generates a current NOI of $106,803 and is approximately 21% under-rented across the building, offering immediate and measurable upside through rent optimization. The building is in good ov...erall condition, with several capital improvements already completed. Rents are inclusive, with landlord-paid utilities, creating potential for future expense optimization. On-site parking enhances tenant appeal and long-term stability. This asset qualifies for CMHC MLI-Select-style financing, making it an attractive opportunity for investors seeking leverage, income growth, and a strong downtown location with limited multi-residential supply. Full financials, rent roll, and supporting documentation are available in the data room. Serious buyers are encouraged to review the materials to fully understand the income upside and financing potential.
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Courtesy of: RE/MAX RISE EXECUTIVES, BROKERAGE