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, a projected 6.71% ROI. and with 0% vacancy and fully leased until 2025. (id:4069)
| Address |
423 PALACE Road |
| List Price |
$974,995 |
| Property Type |
Single Family |
| Type of Dwelling |
House |
| Style of Home |
2 Level |
| Area |
Ontario |
| Sub-Area |
Kingston |
| Bedrooms |
5 |
| Bathrooms |
3 |
| Floor Area |
2,000 Sq. Ft. |
| MLS® Number |
40572559 |
| Listing Brokerage |
RE/MAX Service First Realty Inc, Brokerage
|
| Basement Area |
Full (Finished) |
| Postal Code |
K7L4T5 |
| Zoning |
UR5 |
