216 Alfred Street

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.

A great investment opportunity! Or a savvy owner could live in the upper level and rent out the NEW LEGAL 2026 3 bedroom apartment in the lower level and use that income to pay down their mortgage. Located in the heart of Kingston within walking distance of shopping, restaurants, Queen's University, Hospitals, Downtown and the waterfront. A well-maintained property. This charming 2-storey brick home offers both character and functionality, complete with private parking and a detached garage. The home features a total of 9 spacious bedrooms, Kitchen and Laundry in both units, total of 3 Bathrooms, Bonus 3rd storey loft and a charming front porch, making it an excellent option for student rental income. CURRENTLY TENANTS OCCUPIED FOR $6600/MONTH + UTILITIES. NEWLY RENOVATED 2026 LEGAL LOWER 3 BEDROOM APARTMENT. -UPPER 6 BEDROOM UNIT RENTS FOR $4500/MONTH ($750/BEDROOM) + UTILITIES. -LOWER 3 BEDROOM UNIT RENTS FOR $2100/MONTH ($700/BEDROOM) + UTILITIES. -1 YEAR LEASE AGREEMENTS FOR BOTH UNITS.