$775,000 - 138 Chatham Street, Kingston
Multi-Family for Sale in Kingston
57 days on marketNeighbourhood: 22 - East of Sir John A. Blvd
- MLS Number
- X13126954
- Property Type
- Multi-Family
- Status
- active
- Days on Site
- 57
- Bedrooms
- 6
- Bathrooms
- 3
- Square Feet
- 1,500 - 1,999 sqft
- Neighbourhood
- Kingston
- Listing Brokerage
- ONE PERCENT REALTY LTD.
Excellent investment opportunity in the heart of Kingston, approximately a 15-minute walk from Queen's University and close to major bus routes. Located just north of Princess Street, this detached 6-bedroom duplex is a strong addition to any investment portfolio. The main unit offers 5 bedrooms across two levels, 2 full bathrooms, a spacious living room, and a large eat-in kitchen with updated flooring. A major bonus is the additional bachelor apartment, providing an extra income stream. Both units are separately metered and share access to on-site laundry. 2 parking spots are available to rent for additional income too. Generating $66,000 in gross annual income, this property offers an impressive cap rate of over 7.5%. Major updates include a roof replacement in 2023 and vinyl windows throughout. A proven income generator with strong rental demand, the property is currently leased until April 30th, 2027. The bachelor apartment is currently rented below market value, presenting excellent future upside potential.
Estimate your monthly payments for this property
Estimated Payment
$3,976.15/mo
Includes CMHC insurance ($21,623)
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover 22 - East of Sir John A. Blvd
22 - East of Sir John A. Blvd is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in 22 - East of Sir John A. Blvd
- •Convenient location in Kingston
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
22 - East of Sir John A. Blvd offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
138 Chatham Street, Kingston
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Competitive Pricing
At $517/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Negotiation Opportunity
At 57 days on site, this property has exceeded the typical selling timeline for Kingston. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Excellent Flexibility
With 6 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Kingston.
Bathroom Count Matters
With 3 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
About 22 - East of Sir John A. Blvd
I know 22 - East of Sir John A. Blvd well from working with many buyers and sellers here. Each pocket has its own character - let me share what I've learned about this specific street and block. During our showing, I'll point out local amenities, school catchments, and what similar homes have sold for recently.
Investment Perspective
Looking at this as an investment: Kingston properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $3,229 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.