237 Mowat Avenue Kingston, Ontario K7M 1K6

$2,315,000

237 Mowat Avenue is a property of eight beautifully renovated apartments containing a total of 11 bedrooms, fully leased, on a site-specific zoned lot recognizing an 8-unit multiplex, strategically located in the historic district of Portsmouth Village/Mowat Woods, with close proximity to Queens University West Campus, Providence Care Hospital and St Lawrence College. The attractive, farmhouse style architecture building, on a large property situated on a public transit route with bus stops directly in the front giving easy access to KHSC and Queens Main campus only minutes away. Centrally located, 237 Mowat has a very walkable score of 74 making it easy for most errands to be accomplished on foot and a very bikeable score of 83 providing the tenants a healthy option for personal transportation and exercise. The proximity to numerous institutions provides strong rental demand, is always rented with excellent cash flow and steady long-term returns. Averaging a 24-month turnover the ability to adjust rents with greater frequency increases profitability at an accelerated rate. The location is an upscale, single-family neighborhood, minutes walk to the business district of Portsmouth Village and Lake Ontario waterfront. The surroundings and area bestow the occupants, who are primarily postgraduates or young professionals, with plenty of park like green space and a tranquil, relaxed way of living. There are eight attractive, self-contained units of 5 one-bedroom 1 bath suites, 2 two-bedroom 1 bath flats and a two-bedroom 2 bath bi-level apt each with private entrances, and a parking lot and common coin laundry. Appealing to a broad demographic of renters, updated and well maintained with many recent site improvements, this is a rare offering having an excellent ROI that would be a strong and secure compliment to any real-estate investment portfolio! (id:28587)

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https://www.realtor.ca/real-estate/27799857/237-mowat-avenue-kingston-central-city-west-central-city-west