$974,995

423 PALACE Road
Kingston, Ontario K7L4T5

ID# 40572559

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:56267)

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Courtesy of RE/MAX Service First Realty Inc, Brokerage
Listed on: April 17, 2024

On market: 31 days

Bathroom Total	3
Bedrooms Total	5
Cooling Type	Central air conditioning
Heating Type	Forced air
Heating Fuel	Natural gas
Stories Total	2

4pc Bathroom	Second level	Measurements not available
Kitchen/Dining room	Second level	11'8'' x 13'9''
Living room	Second level	11'5'' x 16'4''
Bedroom	Second level	11'4'' x 16'4''
Foyer	Lower level	7'4'' x 9'6''
Laundry room	Lower level	5'6'' x 8'6''
4pc Bathroom	Lower level	5'4'' x 6'8''
Kitchen	Lower level	10'10'' x 10'1''
Living room	Lower level	13'9'' x 14'0''
Bedroom	Lower level	11'2'' x 19'4''
Bedroom	Lower level	13'2'' x 9'2''
4pc Bathroom	Main level	Measurements not available
Dining room	Main level	1'9'' x 15'4''
Living room	Main level	14'8'' x 10'8''
Kitchen	Main level	11'5'' x 9'10''
Bedroom	Main level	15'0'' x 11'1''
Bedroom	Main level	11'7'' x 19'10''

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Derek McCauley

Sales Representative

Direct/Text 613-539-8051

Derek@royallepage.ca

Darcy Myers

Sales Representative

Direct/Text 613-453-9709

DarcyMyers@RoyalLepage.ca

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423 PALACE Road Kingston, Ontario K7L4T5

423 PALACE Road
Kingston, Ontario K7L4T5