354, 356 and 366 Lincoln Street offers an investment opportunity to own a 3 building / 34 unit apartment project located in Kingston, NS just minutes of Hwy 101. Unit mix: 2 x 1 Bdrm, 22 x 2 Bdrm with 2 appliances and 10 x 2 Bdrm with 5 appliances. Majority units have balconies. Attractively landscaped with good curb appeal. Buildings are in very good overall condition. The two front buildings are 3 levels with 12 units each that were built in 1989 and 1990. The rear building is a 2 level 10 unit that was completed in 2011. Mature tenant base. Current rents are under valued. Opportunity to raise rents to market as units turnover. Buildings are highly efficient with minimal common area. Electric baseboard heat and air exchange in new building. Low operating costs. Treat financing as clear. Current income is reflective of a 6.0 cap rate. (id:47423)
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Detailed Information
Amenities Nearby
Park, Playground, Public Transit, Shopping
Listing Contract Date
2024-05-02
Location Description
Lincoln Street is located between Marshall Road and Westwood Street in Kingston, NS.
Municipal ID
55085708
Ownership Type
Freehold
Property Type
Multi-family
Structures
Shed
Transaction Type
For sale
Building
Appliances
Range, Dryer, Washer, Refrigerator
Constructed Date
1990
Flooring Type
Carpeted, Hardwood
Foundation Type
Concrete Perimeter
Type
Apartment
Utility Water
Drilled Well
Parking Spaces
Name
Spaces
Parking Space(s)
Shared
Utilities
Type
Description
Cable Available
Unknown
Land
Total Size
2.17 acres
Acreage
Yes
Amenities
Park, Playground, Public Transit, Shopping
Sewer
Municipal sewage system
Size of Irregular Land
2.17
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