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: | $5165.00 |
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 124.30 (Feet) |
Directions/Cross Streets: | Glendale Road |
Category: | Apartment |
Use: | Apts-2 To 5 Units |
Building Percentage: | Y |
Total Area: | 0.23 |
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 |
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 |
Washrooms: | 5 |
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 |
Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
RE/MAX QUINTE LTD. |
|
Book Showing | Email a Friend |
Type: | Com - Investment |
Area: | Hastings |
Municipality: | Belleville |
Lot Size: | 86.33 x 124.30(Feet) |
Approximate Age: | 51-99 |
Tax: | $5,165 |
Maintenance Fee: | $1,500 |
Baths: | 5 |