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Business For Sale · Multifamily

442 MACDONNELL STREET, Kingston (Central City East)

442 MACDONNELL STREET, Kingston (Central City East), ON K7L4E4

$2.4M total

1,883.68 SF

Asset Class

Multifamily

Size

1,883.68 SF

Building class

A

Zoning

RA8 — Medium Rise

$ / SF

$1261

Occupancy

100%

About this property

Prime investment opportunity in Central Kingston! This solid, fully-brick 12-unit residential building features a turn-key mix of 6 one-bedroom units and 6 efficient bachelor units. Situated in a high-demand location with easy transit access to downtown amenities and post-secondary institutions. Strong Revenue Stream: Generating a solid $186600 in gross annual rent, plus extra income from the onsite coin-operated laundry and 3 dedicated outdoor parking spaces. Current Rent is 12% below market across the building, with room to improve. Low Owner Capital Expenditure: New roof replaced 2 years ago, offering low maintenance risk for years to come.Minimal Utility Costs: Each unit is individually metered for hydro, drastically keeping landlord utility expenses low. Key Features: Carpet-free building interior, exterior lighting, updated fire protection system, and select units with cozy gas fireplaces. An exceptionally stable, low-maintenance multi-family asset offering strong cash flow with reliable upside. CMHC Mortgage is transferable with certain conditions. The Loan loan term ends in 2029 (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$2.38M
Down payment30% · $713K
Interest rate6.25%
Amortization25 years
Occupancy100%
Expense growth2.5%

Monthly debt service

$11K

Projected NOI

$127K

Annual cash flow

$-4K

Cash-on-cash

-0.62%

DSCR

0.97

Going-in cap

5.36%

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
Cascade Foods Inc.658 SF2032-01
Cascade Foods Inc.425 SF2032-01
Cascade Foods Inc.793 SF2032-01

Area demographics

Trade area within 3 miles of the property.

Population

122,712

Households

44,675

Median income

$81,500

Median age

41.8

Daytime population

208,011

5-yr growth

0.6%

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

Secure deal room

Confidential diligence documents for 442 MACDONNELL STREET, Kingston (Central City East).

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.