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    Welcome to 423 Palace Road – an exceptional property in the heart of the City. This well-maintained legal 3-unit building boasts separately metered two 2-bedroom units, one 1-bedroom unit catering to a mature, and professional tenant demographic, given the condition and location there is never a vacancy. Proximity to Queen's University, hospitals, and public transit, it will appeal to all Buyer groups and investors. The property is a standout with its 100-gallon owned solar hot water heater, energy-efficient vinyl windows, and upgraded insulation, contributing to reduced operational costs. Currently two units leased until 2025, and one-unit vacant June 2024, the building offers an attractive income stream, and an opportunity for owner occupancy as an economical housing option. Its short-term rental rating positions it as an ideal investment for both long-term tenants and those exploring Airbnb opportunities. The property's leasing history over the past 14 years reflects its consistent popularity, ensuring the units are effortlessly filled. As an added bonus, 423 Palace Road comes fully furnished, ready for quick occupancy. With a 7.11% CAP Rate and a projected 5.93% ROI this opportunity is not to be missed. (id:24093)
    Listed by Drew Mayhew and Luca Andolfatto of RE/MAX Service First Realty Inc,Brokerage

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    "Based on information submitted to CREA as of February 28, 2024 . All data is obtained from various sources and has not been, and will not be, verified by broker or CREA.  All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing."

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