423 Palace Road Kingston, Ontario K7L 4T5

5 Bedroom 3 Bathroom 2000
Central Air Conditioning Forced Air


This property checks all the boxes. Are you a parent looking to house your son or daughter at Queens—want to have it paid for? Then this property is for you. Or are you a savvy investor that just wants great returns and a solid investment—we have you covered! Don't be deceived by its modest exterior—423 Palace Road is a fully furnished, turn-key, high performing investment. This property is larger than it looks due to a large addition at the rear. Discover 423 Palace Road—an exceptional, well-maintained legal 3-unit property in the heart of the City. With two 2-bedroom units, one 1-bedroom unit, and close proximity to Queen's University, hospitals, and public transit, it appeals to mature tenants and professionals. Standout features include a 100-gallon owned solar hot water heater, energy-efficient vinyl windows, and upgraded insulation for reduced operational costs. Offering an attractive income stream and with a sought after short-term rental rating, it's ideal for long-term tenants and Airbnb ventures. Don't miss this opportunity with a 7.07% CAP Rate and a projected 6.71% ROI. and with 0% vacancy and Fully leased until 2025 (id:37354)

Property Details

MLS® Number 40572564
Property Type Multi-family
Amenities Near By Park, Place Of Worship, Playground, Public Transit, Schools, Shopping
Community Features High Traffic Area, School Bus
Features Paved Driveway
Parking Space Total 4
Structure Porch


Bathroom Total 3
Bedrooms Total 5
Appliances Microwave Built-in
Basement Development Finished
Basement Type Full (finished)
Cooling Type Central Air Conditioning
Exterior Finish Vinyl Siding
Heating Fuel Natural Gas
Heating Type Forced Air
Stories Total 2
Size Interior 2000
Type Triplex
Utility Water Municipal Water


Access Type Road Access
Acreage No
Land Amenities Park, Place Of Worship, Playground, Public Transit, Schools, Shopping
Sewer Municipal Sewage System
Size Depth 135 Ft
Size Frontage 50 Ft
Size Total Text Under 1/2 Acre
Zoning Description Ur5



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