Rare opportunity for good investment property in heart of Kingston. This 5 unit property is fully occupied with tenants paying all utilities minus their hot water. Also, there is a two-bay garage situated in the back of the property that is rented out for additional income - $150/month. The property consists of (1) 3 bedroom, (2) 2 bedrooms, (1) studio, and (1) 1 bedroom. Rents are below market producing good positive cash flow! Offering a 9.2% cap rate at asking price with room for rental income increase NOI reflects a 5% vacancy loss credit, and 3% repair and maintenance. All expenses can be verified upon request.
