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Business For Sale · Multifamily

25 COLBORNE STREET, Kingston (East of Sir John A. Blvd)

25 COLBORNE STREET, Kingston (East of Sir John A. Blvd), ON K7K1C5

$1.1M total

5,096.2 SF

Asset Class

Multifamily

Size

5,096.2 SF

Building class

B

Zoning

RA9 — High Rise

$ / SF

$215

Occupancy

96%

About this property

An income property with immense character and charm tucked inside this 1890 double brick estate on one of downtown Kingston's most walkable streets. This heritage building is now uniquely divided into four one-bedroom suites, each unit a little different from the next. The expensive ticket items have been looked after, including the roof, boiler, and exterior maintenance. The main-floor apartment is the one people talk about after they leave. Inside, the ceilings hit ten feet. Bookshelves line the walls like someone didn't miss a single book sale. There's a gas fireplace for the months when you need one and a mini-split for the weeks when you'd pay anything for cold air. The washer and dryer are self-contained within the unit. 2 units occupy the 2nd floor, and the 3rd floor features an attic-style suite that is charming in its own right. The building sits steps from a plethora of restaurants, downtown markets, and a variety of coffee shops you'll develop opinions about. It's the kind of address that makes the commute home feel like the point. There is an enclosed back space for a pooch, a shed for gardening tools, a deck for cocktails, and parking for 3+cars. More information about this heritage-designated home can be found in the docs section. Great tenants currently in place. A home inspection by Before You Buy Home Inspections has recently been completed for the building and units. (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$1.09M
Down payment30% · $329K
Interest rate6.25%
Amortization25 years
Occupancy96%
Expense growth2.5%

Monthly debt service

$5K

Projected NOI

$47K

Annual cash flow

$-14K

Cash-on-cash

-4.20%

DSCR

0.77

Going-in cap

4.28%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Rent roll (estimated)

TenantAreaExpiry
Prairie Coffee Roasters4,892 SF2031-01

Area demographics

Trade area within 3 miles of the property.

Population

136,454

Households

64,468

Median income

$133,000

Median age

34

Daytime population

179,001

5-yr growth

4.4%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 25 COLBORNE STREET, Kingston (East of Sir John A. Blvd).

NDA required

  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.