Salehian.com 647-325-5000

48 Stephen Street

22 - East of Sir John A. Blvd, Kingston, K7K 2C3

$2,375,000

Photo 1 of 10Photo 2 of 10Photo 3 of 10Photo 4 of 10Photo 5 of 10Photo 6 of 10Photo 7 of 10Photo 8 of 10Photo 9 of 10Photo 10 of 10

Listed 140 days ago · MLS® X13228856

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.

Details

Type
Investment
Lot
57.72 × 141.18 ft
Garage
None
Property tax
$24,831 (2025)
Neighbourhood
22 - East of Sir John A. Blvd
Municipality
Kingston

Heating, cooling and services

Heating
Gas Hot Water
Water and sewer
Sanitary
Utilities
Yes

Building and exterior

Building area
10,000 Square Feet

More

Possession
Flexible
Cross street
Stephen St and Montreal St
Business type
Apts - 6 To 12 Units

Location

Location is approximate. See nearby homes on the map

Recent sales nearby

See what similar homes within 1 km sold for in the last year. Create a free account or sign in to see them.

The neighbourhood

Getting around Walkable

No subway, LRT or GO station within a short trip.

Within a 10-minute walk: 2 grocery stores, 13 cafés and restaurants, 14 parks, 4 pharmacies. Nearest grocery: Quattrocchi’s (750 m). Nearest park: Megaffin Ball Park (250 m).

Schools nearby

Elementary

  • Central Public School
    EQAO: Gr 6 reading 94%, math 65%    15 min walk
  • Cathedrale Catholic School Catholic
    EQAO: Gr 6 reading 92%, math 54%    1.2 km
  • Rideau Public School
    EQAO: Gr 6 reading 91%, math 59%    1.4 km
  • Sydenham Public School
    EQAO: Gr 6 reading 91%, math 40%    1.5 km

Secondary

  • École secondaire publique Mille-Iles French2 min walk
  • Katarokwi Learning Centre5 min walk
  • Regiopolis-Notre Dame Catholic High School Catholic
    EQAO: Gr 9 math 61%, literacy test 83%    5 min walk

EQAO: share of students meeting the provincial standard (2024–25). Ontario average: Gr 6 reading 86%, math 51%; Gr 9 math 55%; literacy test 83%.

Closest schools, not school zones. Check which school serves this address with the school board before relying on it.

Who lives here postal area K7K

Owners / renters
44% / 56%
Median household income
$67,000
Average age
40
Children under 15
15%
Homes
36% detached, 13% high-rise
Commute by transit
7%
Population
33,705

Languages spoken most at home besides English: Portuguese 0.7%, Mandarin 0.5%, Arabic 0.5%, Spanish 0.4%.

Safety

Crime Severity Index for Kingston police: 69 vs 57 for Ontario (2025).

Police-reported figures for the whole police service area, not this street. Rates use the area’s resident population.

Distances are approximate. Places © OpenStreetMap contributors. Neighbourhood figures: Statistics Canada, 2021 Census. School results: EQAO via Ontario Data Catalogue (Open Government Licence – Ontario). Crime Severity Index: Statistics Canada.

Living here

Commute

Noise Nothing major nearby

No highway within 500 m, rail line within 300 m, or airport flight path nearby.

Distances from the map, not noise measurements. Visit at rush hour to judge for yourself.

Internet High-speed

50/10 Mbps or faster available here by cable, fibre or DSL (the federal high-speed target).

From the federal broadband map. Check exact speeds and providers for the address.

Roads, rail, airports and planned stations © OpenStreetMap contributors. Internet: Innovation, Science and Economic Development Canada, National Broadband Data.

Listed by RE/MAX RISE EXECUTIVES, BROKERAGE.

Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.

Similar homes nearby

See more in Kingston