Home · Buy · Kingston · 48 Stephen Street, Kingston, ON K7K 2C3
+ 24 photos
For Sale · Investment
48 Stephen Street, Kingston, ON K7K 2C3
Kingston · 22 - East of Sir John A. Blvd
0
Beds
—
Baths
0
Parking
10000 sq ft
Sq ft
—
Built
The honest picture
List price
$2,375,000
Renavu Estimate
—
Benchmark · All homes
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Benchmark from the monthly TRREB Home Price Index. Estimate for guidance only — not an appraisal.
About this home
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.
Property details
Listed on
June 2, 2026
Days on market
52 days
Property tax
$24,831.39 (2025)
Lot
57.72 × 141.18 Feet
Heating
Gas Hot Water
Cooling
No
MLS®
X13228856
Full details
Parking
GarageNone
Property & sold history
🔒
See this home's sale & listing history
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What you actually need in cash — land transfer tax, closing costs, and your down payment.
Purchase price
$
Down payment · 20.0%
$
Down:or type any amount above
Homes over $1.5M require a minimum 20% down payment.
Legal fees
$
Title insurance
$
Home inspection
$
Ontario land transfer tax$45,850
Legal · title · inspection$2,800
Closing costs$48,650
Down payment$475,000
Total cash to close$523,650
Estimates only, not legal or tax advice. Ontario LTT rates 2025; City of Toronto MLTT applies inside Toronto (incl. Scarborough, North York, Etobicoke, York, East York). Durham and Markham buyers pay no municipal LTT.
+ 24 photos
