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$749,000
Available - For Sale
Listing ID: X8065516
Legal 5-plex in a great central location in Belleville. This brick 2951 sq ft. 2 story is on a main bus route and close to schools, shopping & the 401. A well-maintained property comprised of a large 2- bedroom & four 1-bedroom apartments. The property has some great features & updates including 5 owned HWTs. Two high-efficiency natural gas furnaces (2021). Metal roof (2020). All units are separately metered for hydro & water. Paved parking for 6-7 vehicles,one with recycled asphalt (2017) . Most windows & Exterior doors are newer. 4 of the 5 apartments have been updated with laminate & vinyl flooring, LED lighting & plumbing fixtures. Upstairs apartment renovated in 2023.Keyless entry on 3 apartments. Tub surrounds in 2 units. Fire-rated furnace room with sprinklers for fire compliancy. Some newer appliances. Three of the four ground-floor apartments have large partially fenced private yards. Most are long term tenants who all pay for their own water & hydro. Landlord pays gas heat.
Extras:   5 Glendale & basement (utility area) available for viewings prior to receiving an accepted offer. A great income property with a 5.3% cap rate at asking price. Electric baseboards not use. Current rents still have real growth potential.
Price $749,000
Maximum Rental Term: 12
Taxes: $5,165
Tax Type: Annual
Occupancy by: Tenant
Address: 170 College St West , Belleville, K8P 2G8, Ontario
Postal Code: K8P 2G8
Province/State: Ontario
Legal Description: PT LT 5 PL 769 THURLOW PT 1, 21R20860; B
Lot Size: 86.33 x 124.3 (Feet)
Directions/Cross Streets: Glendale Road
Zoning: R2
Category: Apartment
Use: Apts-2 To 5 Units
Building Percentage: Y
Total Area: 2,958
Total Area Code:  Sq Ft
Area Influences: Major Highway   Public Transit
Approximatly Age: 51-99
Chattels: Y
Franchise: N
Taxes Expense: $5165
Insurance Expense: $2957
 Management Expense: 6712
Maintenance: 1,500
 Heat Expenses: $2329
 Hydro Expense:  $700
Water Expense: $0
Other Expenses: $600
Gross Income/Sales: $62247
Operating Expenses: $19964
Vacancy Allowance: 0
Net Income Before Debt: $42283
Percentage Rent: 100
Year Expenses: 2024
Expenses Actual/Estimated: $Est
Sprinklers: Part
Heat Type: Gas Forced Air Open
Central Air Conditioning: Part
Water: Municipal
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Asking Price: $ Heating: $ /Year  
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Taxes:   $ /Year Other Debt: $ /Year  
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Although the information displayed is believed to be accurate, no warranties or representations are made of any kind.
RE/MAX QUINTE LTD.

170 College St West , Belleville, K8P 2G8, Ontario


 
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At a Glance:
Type: Com - Investment
Area: Hastings
Municipality: Belleville
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Lot Size: 86.33 x 124.30(Feet)
Approximate Age: 51-99
Tax: $5,165
Maintenance Fee: $1,500
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Baths: 5
Garage: 0
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