845 Woodbine Road - Kingston, ON
$1,349,900
Tim Barber (Broker) / Graeme McDonald (Sales Representative)
Exciting opportunity to acquire a first of its kind three unit property in the west end of Kingston
Wx3 Developments is excited to offer this pre-construction triplex in the highly desirable Bayridge neighbourhood just steps from public transit, restaurants and services.
With two 3 bedroom 1128 sq ft units and one 2 bedroom 932 sq ft unit and 6 parking spots, this build is ideally located for families near great school options and centrally located in the Kingston’s west end with easy access to all points within the city and the 401. Higher end finishes including quartz counter tops, kitchen islands, 9 ft ceilings, ceramic tile in bathrooms and luxury vinyl plank in the rest of each unit. The builder intends to commence the build in March of 2025 with completion in the fall of 2025. For a buyer on board early in the build process the builder is happy to discuss options for finishings and design elements. An amazing investment opportunity for the investor or live-in landlord looking for a home that comes with great income!
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Property Highlights
01 – Location
Superior west end location within walking distance to the Cataraqui Town Centre and proximate to all amenities such as grocery stores, restaurants, parks, and transit.
02 – Unique Opportunity
Rare opportunity to acquire the first of its kind multi-unit in the west end of Kingston. A once in a life-time opportunity. If you plan to live in one of the units, you can take advantage of house-hacking, a strategy where you live in one unit while renting out the others. This can significantly reduce your living expenses.
03 – Low Vacancy
Overall vacancy rate for purpose-built rental apartments in Kingston is 1.2%, ranking it the second-lowest among Central Metropolitan Areas (Year 2022). Despite strong growth in supply, the number of affordable rental options remain limited. The rent for 2-bedroom apartments that turned over to new tenants increased by 21.6%, on average, in 2022.
04 – Population Growth
Overall vacancy rate for purpose-built rental apartments in Kingston is 1.2%, ranking it the second-lowest among Central Metropolitan Areas (Year 2022). Despite strong growth in supply, the number of affordable rental options remain limited. The rent for 2-bedroom apartments that turned over to new tenants increased by 21.6%, on average, in 2022.
Property Profile
Residential 1 x 2 Bedroom unit
2 x 3 bedroom units
Total units = 3
Site Details
Address: 845 Woodbine Rd, Kingston ON Legal
Description: PT LT 7 CON 2, Kingston PT2 13R22678 City of Kingston
Zoning: UR1.A
Neighbourhood: Bayridge
Parking: 3 Spots with bicycle parking available Lot Size: 74ft x 135ft = 9504 sq ft
Property Tax: Not Assessed
Building Details
Type: Detached 2 Storey with Finished Basement unit
Year Built: To be Completed 2025 Building Footprint – 1120 sq ft
Construction: Concrete Foundation & Wood Structure
Exterior: Stone & Horizontal siding
Roof: 49 year asphalt shingles
Laundry: Paid on site
Building Systems
Heating & Cooling: Seperate Heat Pumps, HRV, and Electric Heat per unit
Sump Pumps: In Laundry Room
Electrical: Separately Metered per unit, 100 amp service
Finishes
Vinyl Plank Flooring in living areas and bedrooms 1×2 Tile in Bathrooms
Quartz counters for kitchens and vanities
9 ft ceilings with California knock down in all units Kitchen Islands in the 3 bedroom units
Gross Rents
| Basement Unit | $2,350.00 | $28,200.00 |
| Middle Unit | $2,650.00 | $31,800.00 |
| Upper Unit | $2,650.00 | $31,800.00 |
| Laundry Income | $100.00 | $1,200.00 |
| Total Gross Income | $7,750.00 | $93,000.00 |
Expenses
| Property Tax | $583.00 | $6,996.00 |
| Insurance | $416.00 | $5,000.00 |
| Utilities | $200.00 | $2,400.00 |
| Yard / Snow | $2,000.00 |
| Total Expenses | $1,199.67 | $16,396.00 |
| NET Income | $6,550.33 | $6,550.33 |
| CAP Rate | 5.722% |
Location
Amenities
Cataraqui Town Centre
Invista Rink and Fitness Centre
Isabell Turner Library
Kingston Transit Hub
Fit4Less
Omega Fit Club
Restaurants
Rose & Crown Pub
Go Italian
Greektown Grill & Takeout
Smoke 'N' Barrel Kingston
The Pasta Shelf
Denny's Restaurant
Schools
Holy Cross Secondary School
Bayridge Secondary School
St. Teresa of Calcutta Catholic School
Archbishop O’Sullivan Catholic School
Bayridge Public School
Truedell Public School
Lancaster Drive Public School
Cataraqui Woods Elementary School
Grocery
Loblaws
Walmart Super Centre
Costco
Metro
No Frills
