$775,000
For sale: Multiplex

Right in the heart of Williamsville, you will find this 2 unit property with lots of potential! With a large, 2-storey 4 bedroom 1 1/2 bath unit at the front and a lovely self-contained 1 bedroom 1 bath unit at the back, it is ideal for student housing. Or great for a family with a rental unit for additional income. Or, perhaps, an in-law suite or AirBnB? The front unit is vacant and freshly painted and the rear unit will be available in August, just in time for the returning students. With today's student rental, this property can generate a very respectable 6.5% cap rate.
Sold data
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 Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 62 days.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.
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
Kingston (East of Sir John A. Blvd) has 38 Fraser Institute–rated schools (29 elementary and 9 secondary), averaging 5.8/10.
School ratings from the Fraser Institute's Ontario school report cards.
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