This property checks all the boxes. Are you a parent looking to house your son or daughter at Queens—want to have it paid for? Then this property is for you. Or are you a savvy investor that just wants great returns and a solid investment—we have you covered! Don't be deceived by its modest exterior—423 Palace Road is a fully furnished, turn-key, high performing investment. This property is larger than it looks due to a large addition at the rear. Discover 423 Palace Road—an exceptional, well-maintained legal 3-unit property in the heart of the City. With two 2-bedroom units, one 1-bedroom unit, and close proximity to Queen's University, hospitals, and public transit, it appeals to mature tenants and professionals. Standout features include a 100-gallon owned solar hot water heater, energy-efficient vinyl windows, and upgraded insulation for reduced operational costs. Offering an attractive income stream and with a sought after short-term rental rating, it's ideal for long-term tenants and Airbnb ventures. Don't miss this opportunity with a 7.07% CAP Rate and a projected 6.71% ROI. and with 0% vacancy and Fully leased until 2025 (id:47423)
Interested in obtaining the full price history for this property? Contact us!Contact us! Our real estate professionals would be happy to provide a complete listing history with historical sold prices and dates.
Detailed Information
Bedrooms
5
Bathrooms
3
Lot
50 x 135 ft
Amenities Nearby
Park, Place of Worship, Playground, Public Transit, Schools, Shopping
Community Features
High Traffic Area, School Bus
Features
Paved driveway
Listing Contract Date
2024-04-17
Location Description
Bath Road, south on Palace Road
Ownership Type
Freehold
# of Parking Spaces
4
Property Type
Multi-family
Structures
Porch
Transaction Type
For sale
Zoning Description
UR5
Building
Appliances
Microwave Built-in
Basement Development
Finished
Basement Type
Full (Finished)
Cooling Type
Central air conditioning
Exterior Finish
Vinyl siding
Heating Fuel
Natural gas
Heating Type
Forced air
Stories Total
2
Type
Triplex
Utility Water
Municipal water
Land
Total Size
under 1/2 acre
Access Type
Road access
Amenities
Park, Place of Worship, Playground, Public Transit, Schools, Shopping
Sewer
Municipal sewage system
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