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

845 Woodbine Road - Kingston, ON

$1,349,900

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.

Floor Plans

Purchase Price Inclusions

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

Prime location in Bayridge, a well-established neighbourhood in Kingston, Ontario, known for its family-friendly atmosphere, good amenities, and proximity to Lake Ontario. Bayridge offers various parks and green spaces, providing residents with opportunities for outdoor activities and relaxation. Some of the parks in the area include Lemoine Point Conservation Area and Rotary Park. The neighbourhood features a range of amenities, including shopping centers, grocery stores, restaurants, and other essential services. The Cataraqui Town Centre is a popular shopping destination in the area. Many families are drawn to Bayridge due to its family-friendly environment, good schools, and safe neighbourhoods. While situated on the outskirts of Kingston, Bayridge offers relatively easy access to downtown Kingston, where residents can explore a wider range of cultural and entertainment options.

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

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