$699,000
FOR SALE

Investment

Lot: 86.33 x 124.3 ftTotal Area: 0.23 acres
2024 Taxes: $5,165Maintenance Fees: $1,500

170 College St W
Belleville, ON K8P 2G8 | Hastings

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.
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Listed By RE/MAX QUINTE LTD.
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X9246951
Last Updated Sep 13, 2024
Property Summary
Property Type Investment

More like this:
Use Apartments - 2 to 5 Units
Category Apartment
PIN 404510161
Legal Description PT LT 5 PL 769 THURLOW PT 1, 21R20860; BELLEVILLE ; COUNTY OF HASTINGS
Minimum Rental Term 12
Occupancy Tenant
Possession Date immediate
Taxes (2024) $5,165
Tax Type Annual
Maintenance Fees $1,500
Directions/Cross Streets Glendale Road
Area Hastings
Price History

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Detailed Information
Freestanding Y
Bathrooms 5
Lot 86.33 x 124.3 ft
Office/Apt Area 2,951 ft2
Total Area 0.23 acres
Approximate Age 51-99
Elevator None
Air Conditioning Part
Chattels Y
Garage Type None
Parking Spaces 7
Heat Type Gas Forced Air Open
Financial Statement Y
Gross Income/Sales $62,247
Net Income Before Debt $44,196
Hydro Expense $700
Heat Expenses $2,329
Insurance Expense $2,957
Management Expense $4,800
Operating Expenses $18,051
Taxes Expense $5,165
Other Expenses $600
Year Expenses $2,024
Expenses Actual/Estimated Act
Percentage Rent 100
% Building 100
Outside Storage Y
Area Influences Major Highway, Public Transit
Soil Test N
Sprinklers Part
Sewers Sanitary
Utilities Y
Water Municipal
UFFI No
Crane N
Rail N
Survey N
Lot/Bldg/Unit Code Lot
Zoning R2
Seller Property Info Statement N

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