1028 Johnson Street

Original Remarks

Well-located corner 5-plex in central Kingston offering reliable rental income with clear upside potential. Currently generating roughly $84,000 annually including laundry and parking income, with an estimated NOI around $64,000, representing a sub-5% cap rate (approximate). The property features five similar 2-bedroom units, each with a 4-piece bath, with three already updated and two offering future upside through improvements and rent growth. Situated on a corner lot with plenty of on-site parking, adding convenience for tenants and additional income potential. The building is well set up with separately metered hydro, 400 amp service, updated windows, radiant on-demand heating, owned hot water systems, and a roof replaced in 2015. Close to Queen's University and St. Lawrence College, with easy access to transit and everyday amenities, supporting consistent rental demand and long-term growth.