$699,000
Available - For Sale
Listing ID: X9246951
170 College St West , Belleville, K8P 2G8, Ontario
| 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 |
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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. |
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|
Mina Nourikhalichi
Broker
Dir:
416-882-5419
Bus:
905-731-2000
Fax:
905-886-7556
| Book Showing | Email a Friend |
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At a Glance:
| 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 |
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