48 Stephen Street
Kingston, ON
- 10,000 sqft
- Investment
- 230 days on market
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 overall 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.
Listing Details
- Taxes (2025)
- $24,831
- Listed
- January 16, 2026
Price History
Listing history
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Property
- Lot Size
- 57.72 x 141.18 Feet
Parking
- Garage
- None
Utilities
- Sewer
- Sanitary
Location & Legal
- Cross Street
- Stephen St and Montreal St
- Zoning
- UR5
- Parcel Number
- 360520061
- Possession
- Flexible
- Occupancy
- Tenant
Commercial
- Business Type
- Apts - 6 To 12 Units
Property Insights
AI-generated from listing photos. Not professional advice.
Community
Postal area K7K
- Population
- 33,705
- Private dwellings
- 16,786
- Median age
- 37.2
- Average household size
- 2.1
- Median household income
- $67,000
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Commercial in Kingston · last 12 months
- Median sold price
- $587,950
- Homes sold
- 1,630
- Median days on market
- 23
- Sale-to-list price
- 97.3%
Based on 1,630 recorded sales of commercial properties in Kingston over the last 12 months.
Listed by
RE/MAX RISE EXECUTIVES, BROKERAGE
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Commercial figures
- Building area
- 10,000 sq ft
- Price per sq ft
- $237.50
- Annual property tax
- $24,831
- Tax per sq ft
- $2.48
Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.
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