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$1,475,000
Available - For Sale
Listing ID: X13668718
Welcome to 79-81 Queen Street, a landmark limestone investment property in the heart of downtown Kingston. Built circa 1840 and rich with historic character, this stately building pairs timeless limestone construction and exposed brick interiors with an exceptional location just steps from the waterfront, Queen's University, Kingston General Hospital, shops, restaurants and cultural attractions. The property offers four residential units, each separately metered to help keep operating costs low, with appliances included in every unit, dishwashers in two and in-suite laundry in one. Current monthly rents are Unit 79-1 at $1,495 beginning September 2026, Unit 79-2 currently offered for lease at $1,795, Unit 81-1 at $1,700 month-to-month and Unit 81-2 at $1,995 beginning August 2026. An exceptional downtown asset, the property also includes 10 coveted parking spaces with the potential to generate an additional $1,000 per month. Based on current projected rents and parking income, the property offers gross annual income of $95,820 and net operating income of approximately $75,780. Its strong rental history reflects the consistent demand for distinctive downtown accommodations, while the large lot may offer future expansion possibilities, including additional units or an addition to the existing building, subject to municipal approvals. The apartments also present value-add potential through cosmetic improvements and future rent growth. With its irreplaceable limestone character, strong projected income, low operating-cost structure, substantial parking and potential for further growth, 79-81 Queen Street is a rare opportunity to acquire a distinguished piece of Kingston's heritage in one of the city's most walkable and sought-after locations.
Price $1,475,000
Taxes: $6,912
Tax Type: Annual
Monthly Condo Fee: $0
Occupancy by: Tenant
Address: 79-81 Queen Street , Kingston, K7K 1A5, Frontenac
Postal Code: K7K 1A5
Province/State: Frontenac
Legal Description: PT LT 195 ORIGINAL SURVEY KINGSTON CITY
Directions/Cross Streets: One street north of Princess, East of Division. 79-81 Queen is just West of Wellington on the North
No. of Pieces Level
Washroom 1:  0
Washroom 2:  0
Washroom 3:  0
Washroom 4:  0
Washroom 5:  0
Washroom 6:  0
Washroom 7:  0
Washroom 8:  0
Washroom 9:  0
Washroom 10:  0
Category: Apartment
Use: Apts - 2 To 5 Units
Building Percentage: T
Total Area: 2,785
Total Area Code:  Square Feet
Approximatly Age: 100+
Maintenance: 0
Heat Type: Baseboard
Central Air Conditioning: Partial
Sewers: Sanitary
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RE/MAX FINEST REALTY INC., BROKERAGE

79-81 Queen Street , Kingston, K7K 1A5, Frontenac

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Arash Salehrad
Broker
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(647)402-5949
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(905)508-9500
Fax:
(905)773-3861

 
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At a Glance:
Type: Com - Investment
Area: Frontenac
Municipality: Kingston
Neighbourhood: 22 - East of Sir John A. Blvd
Style:
Lot Size: x 132.00(Feet)
Approximate Age: 100+
Tax: $6,912
Maintenance Fee: $0
Beds: 0
Baths: 0
Garage: 0
Fireplace: N
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Personal Pic Arash Salehrad Broker pic arashsalehrad@gmail.com RE/MAX REALTRON REALTY INC., Brokerage Independently owned and operated. pic 13321 Yonge St., Unit 203, Richmond Hill, Ontario L4E 3L3 pic Office: (905)508-9500 | Fax: (905)773-3861 | Cell: (647)402-5949