301-307 Barrie Street Kingston, ON

RARE OPPORTUNITY TO ACQUIRE A PREMIER PROPERTY IN DOWNTOWN KINGSTON

BUILDING • Elevated 3 storey, 15 unit walk-up plus basement

apartment building.

• Solid brick and wood frame construction with

limestone foundation.

• Suite mix includes: 2 x 1 - bedroom suites, 4 x 2 -

bedroom suites, 3 x 3 - bedroom suites, 3 x 4 - bedroom

+ den and 3 x 5 bedroom suites for a total of 15 Units

(46 total beds)

LOCATION • Situated on Barrie Street between Princess Street and

Brock Street.

• Located in the heart of the Downtown Kingston’s

Entertainment “Hub” and Central Business District.

• Exceptional location within walking distance to

Queen’s University, both hospitals (HDH and KGH), the

waterfront and all downtown amenities.

• Highly desirable area with a diverse demographic

tenant pool.

301-307 Barrie Street Kingston, ON

PROPERTY DETAILS

PROPERTY TYPE: Elevated 3 Storey Plus Basement

15 Unit Walk-Up Apartment Building

ZONING: C1-3 (Heritage Commercial)

LEGAL DESCRIPTION: PT LT 22 N/S BROCK ST, 22 S/S PRINCESS

ST PL SELMA SUBDIVISION KINGSTON

CITY AS IN FR544679; S/T FR329406; S/T &

T/W FR544679; KINGSTON ; THE COUNTY

OF FRONTENAC

PIN: 360430013

SITE DIMENSIONS: Frontage 101.58 FT

Depth 66 FT

SITE AREA: 7,394 SF

BUILDING SIZE: Level 1

Level 2

Level 3

Total Above Grade

4,740 SF

4,740 SF

4,740 SF

14,220 SF (plus Basement area)

CONSTRUCTION: Solid Brick Wood Frame Construction

FOUNDATION: Limestone

EXTERIOR: Brick

ROOF: Modified Bitumen (Replaced in 2015)

FLOOR PLATES: Wood Frame

STAIRWAYS: Wood Frame

HALLWAYS: Wood Frame

WINDOWS: Vinyl (Replaced within previous 10-12 yrs approx.)

ELECTRICAL: 400 Amp Service with 16 electrical meters

• 15 x Apartments

• 1 x House Meter

HEATING: Electric Baseboard

HOT WATER: 16 Electric Hot Water Tanks

CHATTELS: 15 Fridges, 15 Stoves

LAUNDRY: 4 washer, 4 dryers (pay per use)

BASEMENT: Basement is mostly unfinished with a

portion of the basement improved with

laundry room with 4 washers and 4 dryers.

SUITE SUMMARY:

TYPE COUNT TOTAL BEDS

1-Bed 2 2

2-Bed 4 8

3-Bed 3 9

4-Bed + Den 3 12

5 Bed 3 15

TOTAL 15 46

UTILITIES:

ACCOUNT SERVICE

House Account Water/Sewer

1 Electrical Meter

Apartments 15 Electrical Meters

UPGRADES:

YEAR ITEM

Circa 2010 Replaced all windows with Vynal

products

2015 New modified Bitumen Roof Membrane & Skylights

2020 Replaced electrical fuse panels with

breaker panels in 9 apts

2021 New Security Camera System

2021 New LED Lighting for common areas

(exterior & interior)

301-307 Barrie Street Kingston, ON

301-307 Barrie Street Kingston, ON

INCOME

UNIT SUITE TYPE MONTHLY RENT UTILITIES PAID BY TENANTS PROJECTED MARKET RENT

1 5 Bed $3,090 Heat and Hydro $3,360

2 5 Bed $3,200 Heat and Hydro $3,360

3 5 Bed $3,140 Heat and Hydro $3,360

4 2 Bed $1,500 Heat and Hydro $1,620

5 2 Bed $1,450 Heat and Hydro $1,620

6 1 Bed $995 Heat and Hydro $1,200

7 4 Bed $2,800 Heat and Hydro $3,200

8 4 Bed $2,680 Heat and Hydro $3,200

9 4 Bed $2,800 Heat and Hydro $3,200

10 2 Bed $1,500 Heat and Hydro $1,620

11 2 Bed $1,500 Heat and Hydro $1,620

12 1 Bed $995 Heat and Hydro $1,200

13 3 Bed $2,100 Heat and Hydro $2,475

14 3 Bed $2,085 Heat and Hydro $2,475

15 3 Bed $1,980 Heat and Hydro $2,475

Laundry $250 $250

MONTHLY TOTAL $32,065 $36,235

ANNUAL TOTAL $384,780 $434,820

CURRENT OPERATING EXPENSES

EXPENSE DESCRIPTION ANNUAL COST

Property Taxes 2020 Final Tax Amount $43,028

Insurance From Owner $8,800

Utilities Water/Sewer & Common Hydro $9,500

Repairs & Maintenance $15,000

Management & Leasing 7% of Gross Rent plus HST $30,436.10

Vacancy Allowance 1% of Gross Rent $3,847.80

TOTAL $110,612

NET OPERATING INCOME

Annual Net Operating Income (Current) $274,168

Annual Net Operating Income (Market) $324,208

SUBJECT PROPERTY

301-307 Barrie Street Kingston, ON

SYDENHAM WARD NEIGHBOURHOOD Property is located in the Central Business District of

Downtown Kingston and also benefits from being in the

Prestigious Sydenham neighborhood (commonly referred

to as Sydenham Ward). This area has been named the

“University District” for its prevalence of students and

young residents. Sydenham is the quintessential downtown

neighbourhood. Adored by tourists and a point of immense

pride for locals, Sydenham’s many charms are world-famous.

The neighbourhood has a great mix of families, students and

retirees, creating a diverse and vibrant community that’s

passionate and involved.

CENTRAL BUSINESS DISTRICT The subject property is located on the East side of Barrie Street

between Princess and Brock Streets in the centre of the Central

Business District of the City of Kingston. The area is adjacent to

the Williamsville Neighbourhood where a large number of Multi

Residential and Condominium developments are in various stages;

of completed, under construction or pending final approval.

The subject neighbourhood forms the westerly section of the

downtown core and centres on the intersection of Princess Street

and Division Street, the two primary arteries in the area. Businesses

in the area include a wide range of retail outlets, restaurants, office

space, financial institutions and apartment buildings.

Downtown Kingston, with its continuing growth and improvement

and with the increasing demand for centrally located properties,

is considered to be an excellent location for virtually any type of

commercial activity.

The subject neighbourhood has also seen significant new

development in the area. The immediate area of the subject

property is developed with a mix of commercial/ residential use

properties. Surrounding residential neighbourhoods have seen

some newer in-fill housing with many area houses updated and/

or expanded.

301-307 Barrie Street Kingston, ON

NEIGHBOURHOOD

LOCATION • The property is located on the east side of Barrie Street directly

across from Metro.

• Exceptional location within walking distance to Queen’s University,

both hospitals (HDH and KGH), the waterfront and all downtown

amenities.

• Consequently this is a highly desirable area for student rentals.

SCHOOLS • Winston Churchill, Rideau Public School

• Queen’s University

TRANSIT • Walking distance to downtown Transit Hub

• 6 Bus Stops nearby

RECREATION • Kingston’s City Park, Victoria Park

• Springer Market Square, Confederation Basin

• Memorial Centre & Farmers Market

• Waterfront, Breakwater Park & Gord Downie Memorial Pier

SUBJECT PROPERTY

Queen’s Main Campus Zone 1 Zone 2

SUBJECT PROPERTY

FOR SALE 301-307 Barrie Street

Kingston, ON

$6,750,000 | Multi Residential

QUEEN’S UNIVERSITY HOUSING DISTRICT

WALKER’S PARADISE Daily errands do not require a car.

GOOD TRANSIT Many nearby public transportation options.

VERY BIKEABLE Biking is convenient for most trips.

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

KINGSTON

E t

KINGKING

DOWNTDOWNT

Ro

w G e o r g e

T

/

B

85

62

88

FOR SALE 301-307 Barrie Street

Kingston, ON

$6,750,000 | Multi Residential

56

59

98

57

58

60

107

28

105

100

90

29

17 42 43 44

9

SUBJECT

PROPERTY

92 45

38

75

50 23 77

36 68 49

22 32 76

12 70 73

5

11

20

51

72 3

8 71 31 4

7

89

W 80 102

84

91

35 87

Kingston

Harbour

34

83

DINING CAFE/BAKERY RETAIL FINANCIAL ENTERTAINMENT

15 Tommy’s 16 Pizza Studio 17 The WORKS Craft Burgers

32 General Brock’s Commissary

HOTELS

50 Cloth 51 Roundstone 52 Gracie’s Clothing

70 Modern Primitive 71 House of Angelis 72 Fancy That

88 Kingston Transit Hub 89 Kingston Frontenac Public Library 90 St. Mary’s Cathedral

104 Salti Yoga

105 Symphony Spa & Yoga

106 Samatva Yoga 18 McDonalds 33 Holiday Inn 53 Happy Thoughts 73 A-One Clothing 91 St. George’s Anglican Cathedral 107 Studio 330 19 Tim Hortons 34 Delta Waterfront by Marriott 54 Waterfront Gifts 74 Martello Alley 108 Queen Street CrossFit

35 4 Points by Sheraton 55 Chris James 75 Overstocks 109 Goodlife Fitness

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

13

86 52

101

47 53

1

74

78

93

25 65 46

26 18

19

94

27 108 15

106

14

10 67 39

81

2

55

24

66

64

21

33 54

82

103 30

40 95

96 41

63 99 16

37

97 109 61

ty A

v

Div

isio

n S

t

Rid

eau S

t 6

79 69

104 48

1 Lonestar Texas Grill 20 Coffee & Company 36 Shoppers Drug Mart 56 Shoppers Drug Mart 76 Royal Bank 92 The Grand Theatre

2 Milestones 21 Sipps 37 Staples 57 Bridal Creations 77 Scotiabank 93 The Screening Room

3 Pan Chancho 22 Starbucks 38 Dollarama 58 Murano’s Formalwear 78 CIBC 94 The Leon’s Centre

4 Jack Astor’s 23 Card’s Bakery 39 Dollar Tree 59 The UPS Store 79 TD Bank 95 Improbable Escapes

5 Black Dog Tavern 24 Crave Coffee & Bakery 40 The Rocking Horse 60 Frontenac Cycle 80 Bank of Montreal 96 Sherlock’s Escapes 6 Diane’s Fish House 25 Balzac’s 41 Roots 61 Phase 2 Clothing 81 Wellington Foreign Exchange 97 Stages Night Club

7 Olivea 26 Northside Espresso 42 Lululemon 62 Canada Computers 98 Trinity Social

8 Tango 9 Copper Penny GROCERY

43 44

Trailhead Urban Outfitters

63 64

What’ll I Wear Art Noise

INSTITUTIONS 82 Hotel Dieu

99 The Spot 100 Barcadia

10 Grecos 27 Food Basics 45 Heel Boy 65 Agent 99 83 Kingston General Hospital 101 Studio 22 Gallery

11 Red House 28 Metro 46 The Running Room 66 Midori Gifts 84 Queen’s University 102 1000 Islands Cruises 12 Toucan 29 LCBO 47 Runner’s Choice 67 I Mode 85 Kingston City Hall

13 Tir Nan Og 30 Tara’s Natural Foods 48 Becker Shoes 68 Send in the Clowns 86 Springer Market Square FITNESS 14 The Grizzly Grill 31 Cooke’s Fine Foods 49 Hatley Boutique 69 Minotaur 87 Confederation Basin 103 Pole Fitness Kingston