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$699,000
Available - For Sale
Listing ID: X9246951
Legal 5-plex in a great central location in Belleville. Sitting on a main bus route, close to schools, parks, shopping & the 401. This well-maintained property comprised of a large two-bedroom & 4 1-bedroom apartments. Three of which have large, partially fenced private yards. Some great features & updates in the last few years, including 5 owned HWTs. Separately metered, all tenants pay for their hydro & water, two high-efficiency natural gas furnaces(2021). The landlord pays heat. Metal roof(2020) Paved parking for 6-7 vehicles, one with recycled asphalt(2017). Most windows & Exterior doors are newer. Fire retrofitted in 2018 Four of the five apartments have been updated, including the upstairs apartment in 2023. Laminate & vinyl flooring, LED lighting & newer plumbing fixtures. Keyless entry on three apartments. New tub surrounds in 2 units. Fire-rated furnace room with sprinklers for fire compliance. Some newer appliances. Most are long-term tenants.
Extras:   5 Glendale & basement (utility area) available for viewings prior to receiving an accepted offer. A great income property with a 6.3% cap rate. Electric baseboards not used. Current rent amounts still have real growth potential.
Price $699,000
Minimum 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: .23
Total Area Code:  Acres
Office/Appartment Area: 2951
Office/Appartment Area Code: Sq Ft
Area Influences: Major Highway   Public Transit
Approximatly Age: 51-99
Financial Statement: Y
Chattels: Y
Franchise: N
Taxes Expense: $5165
Insurance Expense: $2957
 Management Expense: 4800
Maintenance: 1,500
 Heat Expenses: $2329
 Hydro Expense:  $700
Other Expenses: $600
Gross Income/Sales: $62247
Operating Expenses: $18051
Net Income Before Debt: $44196
Percentage Rent: 100
Year Expenses: 2024
Expenses Actual/Estimated: $Act
Sprinklers: Part
Outside Storage: Y
Rail: N
Crane: N
Soil Test: N
Heat Type: Gas Forced Air Open
Central Air Conditioning: Part
Elevator Lift: None
Sewers: Sanitary
Water: Municipal
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Asking Price: $ Heating: $ /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
Beds:
Baths: 5
Garage: 0
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