48 Stephen Street, Kingston, ON K7K 2C3
22 - East of Sir John A. Blvd, Kingston · Near Stephen St and Montreal St · View map
About this home
Well-located 12-unit apartment building in Kingston's highly sought-after Inner Harbour District. The property generates a current NOI of $106,803 and is approximately 21% under-rented across the building, offering immediate and measurable upside through rent optimization. The building is in good overall condition, with several capital improvements already completed. Rents are inclusive, with landlord-paid utilities, creating potential for future expense optimization. On-site parking enhances tenant appeal and long-term stability. This asset qualifies for CMHC MLI-Select-style financing, making it an attractive opportunity for investors seeking leverage, income growth, and a strong downtown location with limited multi-residential supply. Full financials, rent roll, and supporting documentation are available in the data room. Serious buyers are encouraged to review the materials to fully understand the income upside and financing potential.
The home
- Type
- Investment
- Square footage
- 10000 sq ft
- Lot size
- 57.7 x 141.2 ft
Ownership & fees
- Ownership
- Freehold
- Monthly condo fee
- None
Heating & cooling
- Heating type
- Gas Hot Water
Garage & parking
- Total parking
- None
Taxes & other
- Property taxes
- $24,831/yr
- Tax year
- 2025
- Occupancy
- Tenant
- Possession
- Flexible
- Cross street
- Stephen St and Montreal St
- Neighbourhood
- 22 - East of Sir John A. Blvd
More
- MLS® number
- X13228856
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No features listed yet.
- Mortgage
- Property tax
- Maintenance fee
Cash needed to close
Estimates only, using Canadian semi-annual compounding, Ontario land transfer tax. Mortgage default insurance is added when you put down less than 20%. Your lender and lawyer will confirm exact numbers.
48 Stephen Street, Kingston, ON K7K 2C3
22 - East of Sir John A. Blvd, Kingston · Near Stephen St and Montreal St
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Listing history for 48 Stephen Street
See what this home and others at the same address were listed for, what they sold for, and how long it took.
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Frequently asked questions about 48 Stephen Street
Answers come straight from this home’s MLS® listing.
How much is 48 Stephen Street listed for, and what would it cost each month?
48 Stephen Street is listed for $2,375,000. With 20% down ($475,000), the mortgage payment would be roughly $9,580 a month at 4.5% over 30 years. Add property tax and the estimate comes to about $11,649 a month, all in. That figure is an illustration, not a quote.
Is 48 Stephen Street freehold or a condo, and is there a monthly fee?
48 Stephen Street is a investment in 22 - East of Sir John A. Blvd, Kingston. Ownership is freehold: you own the home and the lot. There is no monthly condo fee, so the roof, windows, driveway, snow and lawn are yours to look after.
Does 48 Stephen Street have a garage and parking?
The listing does not show a garage. The listing does not include a parking space.
What style of home is 48 Stephen Street?
48 Stephen Street is an investment. Commercial property covers retail, office, industrial and investment buildings and businesses for sale or lease.
How big is 48 Stephen Street, and what is the lot size?
The lot is listed as 57.7 x 141.2 ft.
How is 48 Stephen Street heated and cooled?
Heating is gas hot water. The listing does not show air conditioning.
What are the property taxes for 48 Stephen Street?
Property taxes are $24,831 a year (2025), or about $2,069 a month.
Where is 48 Stephen Street?
48 Stephen Street is in the 22 - East of Sir John A. Blvd community of Kingston. The nearest main intersection is Stephen St and Montreal St. The postal code is K7K 2C3.
Is 48 Stephen Street still for sale?
Yes. It is an active listing (MLS® X13228856). Listings here update from the board through the day and come down once a home sells.
What are similar properties near 48 Stephen Street asking?
Similar properties for sale nearby right now include 121 Cataraqui Street at $1,750,000, 442 Macdonnell Street at $2,375,000 and 1473 Princess Street at $2,390,000. These are asking prices, not sold prices. The Sold history tab shows what homes at this address went for.
What have homes at 48 Stephen Street sold for?
Recent sales, leases and expired listings for this home and others at the same address are in the Sold history tab, with the price and date of each. It is free for members.
How do I book a showing at 48 Stephen Street?
Pick a day and time with Book a Tour on this page. Tours are free, with no obligation, in person or by video. You can also call or text 647-931-3923.
Have a different question? Ask about this home and get an answer, usually within the hour.
Similar properties nearby
More properties for sale near 22 - East of Sir John A. Blvd, picked by style, size and price.
Commercial retail$1,750,000121 Cataraqui Street, Kingston1 bath · 22 - East of Sir John A. BlvdCourtesy of: RE/MAX FINEST REALTY INC., BROKERAGEView home →
Investment$2,375,000442 Macdonnell Street, Kingston14 - Central City EastCourtesy of: CENTURY 21 LANDUNION REALTY INC.View home →
Land$2,390,0001473 Princess Street, Kingston25 - West of Sir John A. BlvdCourtesy of: CENTURY 21 KEYES REAL ESTATE LTD., BROKERAGEView home →Courtesy of: RE/MAX RISE EXECUTIVES, BROKERAGE
Listing information comes from the Toronto Regional Real Estate Board through PropTx and is deemed reliable but is not guaranteed accurate. It is provided for consumers' personal, non-commercial use. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
*Estimated monthly cost assumes 20% down, a 4.5% rate and a 30-year amortization, plus property tax. For illustration only.