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Key Facts
Key facts for 518 Albert Street
Property Type
Lots/Land
Parking
-
MLS #
X11979446
Size
-
Basement
-
Listed on
2025-02-18
Lot size
50 x 133.58
Tax
$4,524 /yr
Days on Market
623
Approximate Age
-
Maintenance Fee
-
Description
4-PLEX DEVELOPMENT OPPORTUNITY: 518 Albert Street presents an attractive redevelopment opportunity on a 5,198 sf lot on a private residential road only 200 ft from the vibrant Princess Street commercial corridor. Under Kingston's progressive zoning regulations the lot permits up to FOUR UNITS offeri...ng tremendous potential for intensification in a prime downtown location. The site presents excellent potential to develop four spacious three-bedroom-plus-den units, with on-site outdoor parking. A secured 6-meter easement across 627 Princess Street ensures optimal vehicle access and infrastructure connectivity, enhancing the property's development potential while maintaining the residential character that defines Albert Street. Positioned in an established residential neighbourhood just off Princess Street, this development opportunity combines the tranquility of a residential setting with immediate proximity to downtown amenities. Future residents will enjoy a short walk to Queen's University, Kingston Health Sciences Centre, and Hotel Dieu Hospital, while being nestled in a community characterized by well-maintained residential homes. The property's UR5 zoning and residential designation align perfectly with multi-unit development potential. The site provides easy access to grocery stores, parks, schools, and the Memorial Centre, offering the ideal balance of peaceful residential living with urban convenience. Kingston's robust rental market fundamentals in this prime downtown location continue to demonstrate exceptional strength. The existing structure provides an opportunity for comprehensive site redevelopment, allowing investors to optimize the site's potential for a modern four-unit residential development in a market characterized by sustained demand. Property must be purchased together with 627 Princess Street (listed separately). Qualified purchasers are invited to review the due diligence package upon execution of a confidentiality agreement.
