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48 Stephen Street
22 - East of Sir John A. Blvd Kingston K7K 2C3

$2,375,000 /For Sale
Commercial

Main Photo: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 1: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 2: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 3: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 4: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 5: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 6: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 7: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 8: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 9: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 10: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 11: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 12: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 13: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 14: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 15: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 16: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 17: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 18: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 19: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Photo 20: 48 Stephen Street in Kingston: 22 - East of Sir John A. Blvd Commercial for sale : MLS®# X12703412
Status:
Active
Prop. Type:
Commercial
MLS® Num:
X12703412
Bus Major:
Apts - 6 To 12 Units
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.
Property Type:
Commercial
Property Sub Type:
Investment
Freestanding:
Yes
Total Area:
10000 sq. ft. Square Feet
Total Area:
10,000 sq. ft.
Lot Depth:
141'2"
Lot Frontage:
57'9"
Water supply:
Municipal
Zoning:
UR5
Heating type:
Gas Hot Water
Garage:
None
Possession Details:
Flexible
HST Applicable To Sale Price:
Included In
Assessment Year:
2025
Type Taxes:
Annual
Taxes:
$24,831.39 / 2025
Assessment:
$- / 2025
Frontenac
Kingston
22 - East of Sir John A. Blvd
Utilities:
Yes
Sewers:
Sanitary
Air Conditioning:
No
Seller Property Info Statement:
No
Major Business Type:
Apts - 6 To 12 Units
Category:
Apartment
Date Listed:
Jan 16, 2026
Original Price:
Previous Price:
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Listed by RE/MAX RISE EXECUTIVES, BROKERAGE
Data was last updated January 18, 2026 at 03:15 AM (UTC)
DARYL  KING
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FAQs – Apartment Buildings for Sale

1. Are apartment buildings a good investment?
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2. What should I consider before buying an apartment building?
Evaluate location, tenant demand, building condition, rental income, and management costs.

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You can find listings across major cities and growing suburbs where rental demand remains strong.