759 HIGH GATE PARK DRIVE, Kingston (South of Taylor-Kidd Blvd)

$809,000

For sale: Multiplex

Property type

Triplex

Bedrooms / bathrooms

5 bedrooms, 3 bathrooms

Living area

1,500 sqft

MLS®

MLS® X14095612

Neighbourhood

37 - South of Taylor-Kidd Blvd

Turnkey Triplex in Kingston - Fully Renovated and Vacant (lower units will be advertised for rent shortly). Exceptional investment opportunity offering three self-contained units, extensive renovations, and projected rental income of $5,295/month ($63,540 annually), with tenants paying their own separately metered utilities. This triplex features a spacious 3-bedroom, 1-bathroom main-floor unit with projected rent of $2,195/month, plus two lower-level 1-bedroom, 1-bathroom units with projected rents of $1,575 and $1,525/month. All three units are currently vacant, allowing investors to select their own tenants and establish leases at current market rents, or offering an excellent opportunity for owner-occupancy with additional rental income. Extensive improvements include a new roof, some new windows and doors, three new kitchens, two new bathrooms, new flooring and fresh paint throughout, new basement insulation, plumbing upgrades, acoustic panels, two dedicated HRV systems, and three new hot water tanks. The property features 200-amp electrical service with three individual 100-amp panels, separately metered utilities, a gas furnace and central A/C for the main-floor unit, and electric baseboard heating for the lower units. Each unit benefits from its own designated parking space, complemented by fencing on three sides of the property. Offering approximately 2,040 sq. ft. of total interior floor area across both levels, this extensively updated property provides a rare opportunity to acquire a vacant, income-producing legal triplex without the challenges of inheriting existing tenancies. An excellent addition to any investment portfolio!