Vishal Sharma
Broker
$579,000
Available - For Sale
Listing ID: X13419790
378 Barrie Street , Kingston, K7K 3T4, Frontenac
| 6.6% Net Cap Rate with Additional Income Upside. An exceptional turnkey investment opportunity with $43,200 in annual gross rental income and a 6.6% net cap rate, with further potential to increase revenue.The property is currently rented as a 4-bedroom student rental at $3,600 per month plus utilities, with a lease in place until the end of April 2027 with the high possibility of these tenants renewing their leases. .Located within walking distance of downtown Kingston and Queen's University, this property benefits from a highly desirable location and consistent demand for student housing. The property has been well maintained and consistently occupied, offering investors immediate income while providing clear upside potential. With the existing four-bedroom configuration generating a 6.6% net cap rate, the opportunity to add rental income through the currently unused bedroom, potential dining-room conversion, and parking space creates the potential for an even stronger return over time.There is meaningful opportunity to increase the property's income beyond the current $43,200 annual rent. The home includes a fifth, smaller bedroom on the second floor that is not currently being rented, along with the potential to convert the existing dining room into an additional bedroom. There is also one dedicated parking space that could potentially be monetized separately. These opportunities provide investors with several avenues to enhance future rental income with relatively modest improvements. |
| Price | $579,000 |
| Taxes: | $3477.75 |
| Occupancy: | Tenant |
| Address: | 378 Barrie Street , Kingston, K7K 3T4, Frontenac |
| Directions/Cross Streets: | queen st |
| Rooms: | 10 |
| Bedrooms: | 5 |
| Bedrooms +: | 0 |
| Family Room: | F |
| Basement: | Unfinished |
| Level/Floor | Room | Length(ft) | Width(ft) | Descriptions | |
| Room 1 | Ground | Living Ro | 15.94 | 10.3 | |
| Room 2 | Ground | Dining Ro | 11.81 | 10.36 | |
| Room 3 | Ground | Kitchen | 12.92 | 11.12 | |
| Room 4 | Ground | Bedroom | 8.66 | 10.66 | |
| Room 5 | Second | Bedroom 2 | 10.3 | 7.68 | |
| Room 6 | Second | Bedroom 3 | 8.76 | 10.66 | |
| Room 7 | Second | Bedroom 4 | 9.18 | 16.17 | |
| Room 8 | Second | Bedroom 5 | 10.3 | 10.36 | |
| Room 9 | Second | Bathroom | 7.38 | 7.38 | |
| Room 10 | Ground | Bathroom | 5.74 | 4.92 |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 4 | Second |
| Washroom Type 2 | 3 | Ground |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 4 | Second |
| Washroom Type 7 | 3 | Ground |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 | |
| Washroom Type 11 | 4 | Second |
| Washroom Type 12 | 3 | Ground |
| Washroom Type 13 | 0 | |
| Washroom Type 14 | 0 | |
| Washroom Type 15 | 0 | |
| Washroom Type 16 | 4 | Second |
| Washroom Type 17 | 3 | Ground |
| Washroom Type 18 | 0 | |
| Washroom Type 19 | 0 | |
| Washroom Type 20 | 0 | |
| Washroom Type 21 | 4 | Second |
| Washroom Type 22 | 3 | Ground |
| Washroom Type 23 | 0 | |
| Washroom Type 24 | 0 | |
| Washroom Type 25 | 0 | |
| Washroom Type 26 | 4 | Second |
| Washroom Type 27 | 3 | Ground |
| Washroom Type 28 | 0 | |
| Washroom Type 29 | 0 | |
| Washroom Type 30 | 0 | |
| Washroom Type 31 | 4 | Second |
| Washroom Type 32 | 3 | Ground |
| Washroom Type 33 | 0 | |
| Washroom Type 34 | 0 | |
| Washroom Type 35 | 0 |
| Total Area: | 0.00 |
| Property Type: | Semi-Detached |
| Style: | 2-Storey |
| Exterior: | Vinyl Siding |
| Garage Type: | None |
| Drive Parking Spaces: | 1 |
| Pool: | None |
| Approximatly Square Footage: | 1100-1500 |
| CAC Included: | N |
| Water Included: | N |
| Cabel TV Included: | N |
| Common Elements Included: | N |
| Heat Included: | N |
| Parking Included: | N |
| Condo Tax Included: | N |
| Building Insurance Included: | N |
| Fireplace/Stove: | N |
| Heat Type: | Forced Air |
| Central Air Conditioning: | None |
| Central Vac: | N |
| Laundry Level: | Syste |
| Ensuite Laundry: | F |
| Sewers: | Sewer |
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| SUTTON GROUP-MASTERS REALTY INC., BROKERAGE |
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Vishal Sharma
Broker
Dir:
416-627-6612
Bus:
905-673-8500
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At a Glance:
| Type: | Freehold - Semi-Detached |
| Area: | Frontenac |
| Municipality: | Kingston |
| Neighbourhood: | 22 - East of Sir John A. Blvd |
| Style: | 2-Storey |
| Tax: | $3,477.75 |
| Beds: | 5 |
| Baths: | 2 |
| Fireplace: | N |
| Pool: | None |
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