Providing Solutions20 Gore Street, Suite 102Kingston, OntarioK7L 2L1www.rtcr.com

All information provided is deemed reliable but is not guaranteed and should be independently verified.

BUILDING• Well managed 3-level multi-tenant building with 12 units

and 21 Beds• 3 x 1 Bed Suites• 9 x 2 Bed Suites

• Separate hydro meters for all units• Common Laundry Area• Storage Lockers on Site• Ample parking 14-16 spaces

INVESTMENT• Significant upside opportunity in future rental income

available

LOCATION• High demand rental location in quiet residential area.• Close proximity to grocery stores, schools, and restaurants,

many of which are within walking distance.

FOR SALE 260 Conacher DriveKingston, ON

$1,300,000 | 12 Units, 21 Beds | Multi-Residential

Sina TahamtanSales Representative

613-583-7462stahamtan@rtcr.com

PROPERTY FEATURESCLICK HERE FOR THE

VIRTUAL TOUR!

All information provided is deemed reliable but is not guaranteed and should be independently verified.

PROPERTY TYPE: 3 Level, 12 Unit Purpose-Built Multi Residential Building with 21 Bedrooms

BUILDING AGE: 46 Years (Approximately)

SITE DIMENSIONS: 91 FT x 218 FT

SITE AREA: 19,800 SF (0.456 Acres)

BUILDING SIZE: 59 ft x 56 ft Footprint

3,3000 SF Each Level

9,9000 SF Total Area

ZONING: “B1” (Multiple Family Dwelling)

FOUNDATION: Concrete Block

PARKING: Dedicated and paved with 14-16 car capacity

ACCESS: Secured entrance and stairs on both south and north sides, accessing central hallways on each level

SECURITY: Remote entry (buzzer) system & surveillance cameras

EXTERIOR: Finished Brick

ROOF: Mansard Roof, predominantly Metal (intermediate ridge and lower slope) with some Asphalt Shingles

(upper slope)

ELECTRICAL: 600 Amp Electrical system w/ separate 200 A electrical meters for each unit & a 200 A house meter

HEATING: Electric baseboard, individually metered for all units

HOT WATER: Two (2) Gas-Fired Hot Water Heaters

BALCONIES: Eight (8) Balconies

LAUNDRY: On-site (coin and token operated)

2 Washers

2 Dryers

STORAGE ROOM: On-site

PROPERTY DETAILS

FOR SALE 260 Conacher DriveKingston, ON

$1,300,000 | 12 Units, 21 Beds | Multi-Residential

All information provided is deemed reliable but is not guaranteed and should be independently verified.

APARTMENT SUMMARY

SUITE SUMMARY: 21 Apartments

3 x 1 Bed

9 x 2 Bed

LOWER LEVEL: Units 1-4

SECOND LEVEL: Units 5-8

THIRD LEVEL: Units 9-12

FOR SALE 260 Conacher DriveKingston, ON

UNIT DESCRIPTION• All suites consist of a living room, eat-in

kitchen, 4-piece bathroom, and bedroom(s)• All suites are large, spacious, and carpet-free.• 2 Bedroom Suites are approx. 600 sf in size• 2 Bedroom Suites are approx. 500 sf in size• Suites 5 to 12 (2nd and 3rd Level) feature

private balconies• Separate hydro meters for each unit. All suite

panels are on fuses (except Unit 8 which is on breakers).

LEVEL 1

LEVEL 2 LEVEL 3

UNIT 5 UNIT 7

UNIT 6 UNIT 8

UNIT 1 UNIT 3

UNIT 2 UNIT 4

UNIT 9 UNIT 11

UNIT 10 UNIT 12

$1,300,000 | 12 Units, 21 Beds | Multi-Residential

All information provided is deemed reliable but is not guaranteed and should be independently verified.

FOR SALE 260 Conacher DriveKingston, ON

$1,300,000 | 12 Units, 21 Beds | Multi-Residential

All information provided is deemed reliable but is not guaranteed and should be independently verified.

INCOME

UNIT TYPECURRENT

MONTHLY RENTCMHC AVG

MARKET RENTTURNOVER

RATEEFFECTIVE

MTHLY RENTUTILITIES

INCLUDED

1 1-Bed 675.00 1064.00 20% 752.80 Water/Sewer, Gas (hot water)

2 2-Bed 626.80 1157.00 20% 732.84 Water/Sewer, Gas (hot water)

3 1-Bed 567.10 1064.00 20% 666.48 Water/Sewer, Gas (hot water)

4 1-Bed 567.10 1064.00 20% 666.48 Water/Sewer, Gas (hot water)

5 2-Bed 800.00 1157.00 20% 871.40 Water/Sewer, Gas (hot water)

6 2-Bed 788.95 1157.00 20% 862.56 Water/Sewer, Gas (hot water)

7 2-Bed 732.98 1157.00 20% 817.78 Water/Sewer, Gas (hot water)

8 2-Bed 697.48 1157.00 20% 789.38 Water/Sewer, Gas (hot water)

9 2-Bed 717.90 1157.00 20% 805.72 Water/Sewer, Gas (hot water)

10 2-Bed 788.95 1157.00 20% 862.56 Water/Sewer, Gas (hot water)

11 2-Bed 800.00 1157.00 20% 871.40 Water/Sewer, Gas (hot water)

12 2-Bed 697.48 1157.00 20% 789.38

Laundry 250.00 250.00 250.00

Monthly Total 8709.74 13855.00 9738.79

Annual Total 104516.88 166260.00 116865.50

OPERATING EXPENSES

EXPENSE COMMENTS MONTHLY COST ANNUAL COST

Property Tax Year 2019 1573.87 18886.41

Building Insurance Estimate Year 2020 291.67 3500.00

Utilities Jan - Dec 2019. Landlord pays water/sewer, common hydro & gas 545.00 6540.00

Repairs & Maintenance $700/unit/year 700.00 8400.00

Property Management 7% Gross of Rent 609.68 7316.18

TOTAL 3720.22 44642.59

FINANCIALS

FOR SALE 260 Conacher DriveKingston, ON

1 Current rents include water/sewer, and hot water heating (via 2x gas hot water tanks)2 Tenants pay own hydro (heating, lights, etc)3 Laundry income estimated at $4/load/unit/week4 CMHC Avg. Market Rent 2019 for Zone 3 property location in Kingston, ON5 Parking income potential available. Currently offered at no charge

Net Income (Current) 59874.29

Net Income (Effective) 72222.91

Net Income (CMHC Market) 121617.41

$1,300,000 | 12 Units, 21 Beds | Multi-Residential

All information provided is deemed reliable but is not guaranteed and should be independently verified.

NEIGHBOURHOOD

FOR SALE 260 Conacher DriveKingston, ON

LOCATION The subject property is situated on the south side of Conacher Drive between Division Street and Montreal Street, just south of Highway 401. The property is well positioned for easy access to a variety of up-and-coming areas of the City of Kingston and all amenities. Montreal & Division Streets provide good north-south access to and from downtown Kingston.

SCHOOLS • New Catholic elementary school (East near Montreal)• New public elementary school (John Counter Blvd)• New highschool under construction (John Counter Blvd)

TRANSIT• Bus Stop at front of Subject Property• Kingston Transit bus routes service the neighbourhood with

bus stops at regular intervals including front of the subject property.

RECREATION• Municipal Park located at subjects’ east limit• Community Youth Centre. Recently constructed. (East on Weller

Ave near Montreal St.)• Shannon Park nearby

2 HIGHWAY 401 INTERCHANGES NEARBY: • Westbound: Interchange at Hwy 401 at Division Street• Eastbound: Interchange at Hwy 401 at Montreal Street

$1,300,000 | 12 Units, 21 Beds | Multi-Residential

OFFER SUBMISSION Offers to be submitted on or before 3:00 pm on July 20th, 2020, addressed to the Listing Agent, Sina Tahamtan.

All Offers are to be submitted on the Agreement of Purchase and Sale as provided by Listing Agent. After the Offer Submission Date, the Seller may request additional information from the offer participants and/or negotiate with one or more parties at its discretion. The Seller has no obligation to acknowledge, respond to, treat with or accept any purchase proposal and reserves the right to remove the property from the market, at its discretion at any time. The Seller, in its sole discretion, reserves the right at any time and in any manner, to reject any and/or all offers and the right to accept any offer at any time which may be in its best interest. The property is being sold on an “as is, where is” basis.