48 STEPHEN STREET, Kingston (East of Sir John A. Blvd)

$2,375,000

For sale: Multiplex

Multiplex at 48 STEPHEN STREET, Kingston (East of Sir John A. Blvd)
Property type
Investment
MLS®
MLS® X13228856
Neighbourhood
22 - East of Sir John A. Blvd

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.

Sold data

Multiplex homes in Kingston (East of Sir John A. Blvd) — recent sold market

Multiplex homes in Kingston (East of Sir John A. Blvd) took a median of 27 days to sell over the last 365 days, with the quickest quarter selling within 17 days and the slowest quarter taking more than 51, across 45 recorded sales.

That clock counts only the listing each home finally sold on. Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 62 days.

The median sale price was $799,900.

Homes sold for about 3.3% below asking on average, so there was room to negotiate.

About 4% of sales closed above the list price.

Around 13% of sellers reduced their price before finding a buyer.

Median days to sell
27
Median sale price
$799,900
Sale-to-list ratio
96.7%
Sold above asking
4%

Based on 45 recorded sales in the last 1 year — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.

Schools

Schools in Kingston (East of Sir John A. Blvd)

Kingston (East of Sir John A. Blvd) has 38 Fraser Institute–rated schools (29 elementary and 9 secondary), averaging 5.8/10.

Rated schools
38
Elementary
29
Secondary
9
Average rating
5.8 / 10

Top-rated schools in Kingston (East of Sir John A. Blvd)

  • R Gordon Sinclair — elementary, KingstonFraser rating 8.2/10
  • Monseigneur Rémi-Gaulin — elementary, KingstonFraser rating 7.8/10
  • Rideau — elementary, KingstonFraser rating 7.8/10
  • Archbishop O'Sullivan — elementary, KingstonFraser rating 7.7/10
  • Madeleine-de-Roybon — elementary, KingstonFraser rating 7.7/10
  • Winston Churchill — elementary, KingstonFraser rating 7.7/10

School ratings from the Fraser Institute's Ontario school report cards.

Currently for sale

Homes for sale near 48 STEPHEN STREET