7.5 NET CAP RATE | $78,000 GROSS ANNUAL INCOME | TURN-KEY DUPLEX. An exceptional investment opportunity offering a strong 7.5 net cap rate, this recently updated duplex generates $78,000 in annual gross rental income and is ideally located just steps from the downtown core and within easy walking distance to Queen's University. Each spacious unit features four bedrooms, 2 full bathrooms, large principal rooms, and in-suite laundry, creating a highly desirable rental offering in a proven student and professional rental location. The well-maintained property offers parking for three vehicles, with additional upside potential through the future monetization of the parking spaces. New leases are in place through the end of April 2027(with the high possibility of both units renewing), providing investors with stable, secured income and immediate cash-flow potential. The current owners have enjoyed zero vacancy throughout their ownership, highlighting the property's strong tenant demand and desirable location. Additional recent improvements include a new roof installed in 2024. With a 7.5 NET CAP RATE, established rental income, secured tenancy, zero vacancy history, and further potential to increase future revenue, this is a compelling turn-key investment opportunity for investors seeking strong, reliable cash flow. Unit 1 $3200/month plus tenants pay for utilities, Unit 2 $3300/month and tenants pay for utilities. The sellers are currently in the process of installing a new sink and shower unit and new stackable washer/dryer in unit 1.
Address
380 Barrie Street
List Price
$929,000
MLS® Status
New
Property Type
Commercial
Type of Dwelling
Investment
Transaction Type
Sale
Area
Kingston
Sub-Area
22 - East of Sir John A. Blvd
Region
Frontenac
Bedrooms (Total)
8
Bathrooms
4
Lot Depth
74
Lot Type
Building
Lot Size Units
Feet
Lot Width
34.3
Parcel Number
360500098
Total Building Area
2250
Occupant Type
Tenant
Cross Street
colborne
MLS® Number
X13692602
Listing Brokerage
SUTTON GROUP-MASTERS REALTY INC., BROKERAGE
Postal Code
K7K 3T4
Posession Details
flexible
Parking Spaces
3
Tax Amount
$5,731.41
Tax Year
2026
Standard Status
Active
Board Or Association
Kingston & Area Real Estate Association
Heat Source
Electric
Heat Type
Baseboard
Cooling Features
No
Garage Type
None
Kitchens Total
2
Tax Legal Description
PT LT 405 ORIGINAL SURVEY KINGSTON CITY; PT LT 406 ORIGINAL SURVEY KINGSTON CITY AS IN FR645237; T/W FR645237; KINGSTON ; THE COUNTY OF FRONTENAC
Waterfront
No
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