1028 Johnson Street
18 - Central City West, Kingston, K7M 2N4
FOR SALE
$1,199,000

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10
BEDROOMS5
BATHROOMS5
KITCHENS25
ROOMSX13159956
MLSIDContact Us
Property Description
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.
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Property Features
On Demand Water Heater, Separate Hydro Meter, Water Heater Owned, Private
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Property Details
Address
1028 Johnson Street
Community
City
Postal Code
K7M 2N4
Property Type
Multiplex, Multiplex
Days On Market
5
Zoning
A2
Lot Size
100' x 82'
Acreage
8,309.7 Feet
Taxes
$7,293 (2025
Basement
Apartment
Heat Type
Radiant
Heat Source
Gas
Water
Municipal
Parking Spaces
10
Garage Type
None
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Listing contracted with Royal Lepage Real Estate Services Ltd.
Solid 6-unit apartment investment located on prestigious Montgomery Boulevard in Kingston's sought-after Reddendale neighbourhood. This well-positioned multi-residential asset benefits from immediate access to public transit and is just steps to nearby parks, walking trails, and Lake Ontario waterfront. The property currently grosses $107,336.64 annually, with upside to be realized through tenant turnover.The building is efficiently configured, features a durable metal roof, has had recent large capital investment and is electrically heated, helping reduce maintenance and operational complexity. Situated in a stable, low-vacancy neighbourhood with strong rental demand, 31 Montgomery Boulevard represents an excellent opportunity for investors seeking a turn-key income property with future value-add potential in one of Kingston's most desirable residential corridors. Currently professionally managed by Axon Property Management.
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Prime five-unit income property ideally located just steps from downtown Kingston, Kingston General Hospital, and Queen's University. This well-cared-for multiplex offers a desirable unit mix and includes on-site parking for four vehicles-an added advantage in this high-demand rental area. With a proven track record of consistent tenancy and a straightforward, low-maintenance operating setup, this property delivers dependable cash flow and long-term stability. Surrounded by amenities, transit, and major employment hubs, it continues to attract quality tenants year-round. A rare opportunity to acquire a solid, income-generating asset in one of Kingston's most sought-after rental locations.
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686 Montreal Street is a legal 6-unit apartment building (6-plex) approx: 3,200-4,600 sq ft range (sources vary) 8 bedrooms total. 4 x 1 bedroom apartments and 2 x 2-bedroom apartments. Features: separate hydro meters per unit (tenant-paid utilities) shared laundry (basement). additional garage/workshop structure on site. Roof approx 10 yrs old. Electrical up grade 2 yrs ago. Common forced air furnace. Each tenant pays for their own hot water tank rental. From an investor standpoint: this is a classic Kingston cash-flow asset-older stock, separately metered, low operating complexity. planning / zoning insight (important for your project) from your pre-consult file (d00-139-1015) and city feedback: zoning: mui - mixed use 1 official plan: mixed use. What that means in practice: supports: multi-unit residential. conversions / intensification additional dwelling units (subject to site constraints)
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