512 Johnson Street, Kingston (Central City East), Ontario K7L1Z8

Property Description

Welcome to a premium investment opportunity in the heart of downtown Kingston, in one of Canada's most resilient student housing markets! This home is just a 5-minute walk to Queen's University and is a turnkey, low-maintenance asset, featuring 6 bedrooms, 2 bathrooms + 2 rare downtown parking spots. Enjoy peace of mind with significant recent updates, including a brand-new furnace, modern flooring, updated wall finishes, bathroom showers and vanities, a new kitchen countertop/sink, updated lighting, and fresh paint throughout. This home is equipped with new stainless-steel kitchen appliances, including 2 refrigerators. New windows have been ordered and are scheduled for installation at the end of June 2026-fully paid for and completed for the new owner. Current Income: The property is fully leased through April 30, 2027, generating $63,000 annually ($875 per bedroom/month). Tenants are responsible for all utilities, providing predictable cash flow with minimal landlord expenses. Built-In Upside: Current rents are below market, and parking is not currently being charged. There is clear opportunity to substantially increase income through future rent adjustments and the introduction of parking fees. (id:5764)