423 Palace Road Kingston, Ontario K7L 4T5

5 Bedroom 3 Bathroom 2000
2 Level Central Air Conditioning Forced Air


Welcome to 423 Palace Road – an exceptional property in the heart of the City. This well-maintained legal 3-unit building boasts separately metered two 2-bedroom units and one 1-bedroom unit, catering to a mature, and professional tenant demographic, given the condition and location there is never a vacancy. Proximity to Queen's University, hospitals, and public transit, it will appeal to all Buyer groups and investors. The property is a standout with its 100-gallon owned solar hot water heater, energy-efficient vinyl windows, and upgraded insulation, contributing to reduced operational costs. Currently two units leased until 2025, and one-unit vacant June 2024, the building offers an attractive income stream, and an opportunity for owner occupancy as an economical housing option. Its short-term rental rating positions it as an ideal investment for both long-term tenants and those exploring Airbnb opportunities. The property's leasing history over the past 14 years reflects its consistent popularity, ensuring the units are effortlessly filled. As an added bonus, 423 Palace Road comes fully furnished, ready for quick occupancy. With a 7.11% CAP Rate and a projected 5.93% ROI this opportunity is not to be missed. (id:48714)

Property Details

MLS® Number 40527331
Property Type Single Family
Parking Space Total 4


Bathroom Total 3
Bedrooms Above Ground 3
Bedrooms Below Ground 2
Bedrooms Total 5
Appliances Dryer, Refrigerator, Stove, Washer
Architectural Style 2 Level
Basement Development Finished
Basement Type Full (finished)
Construction Style Attachment Detached
Cooling Type Central Air Conditioning
Exterior Finish Vinyl Siding
Fire Protection Smoke Detectors
Heating Fuel Natural Gas
Heating Type Forced Air
Stories Total 2
Size Interior 2000
Type House
Utility Water Municipal Water


Access Type Road Access
Acreage No
Sewer Municipal Sewage System
Size Depth 135 Ft
Size Frontage 50 Ft
Size Total Text Under 1/2 Acre
Zoning Description Ur5


Level Type Dimensions
Second Level 4pc Bathroom Measurements not available
Second Level Kitchen/dining Room 11'8'' x 13'9''
Second Level Living Room 11'5'' x 16'4''
Second Level Bedroom 11'4'' x 16'4''
Lower Level Foyer 7'4'' x 9'6''
Lower Level Laundry Room 5'6'' x 8'6''
Lower Level 4pc Bathroom 5'4'' x 6'8''
Lower Level Kitchen 10'10'' x 10'1''
Lower Level Living Room 13'9'' x 14'0''
Lower Level Bedroom 11'2'' x 19'4''
Lower Level Bedroom 13'2'' x 9'2''
Main Level 4pc Bathroom Measurements not available
Main Level Dining Room 1'9'' x 15'4''
Main Level Living Room 14'8'' x 10'8''
Main Level Kitchen 11'5'' x 9'10''
Main Level Bedroom 15'0'' x 11'1''
Main Level Bedroom 11'7'' x 19'10''



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