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.
PT LT 5 PL 769 THURLOW PT 1, 21R20860; BELLEVILLE ; COUNTY OF HASTINGS
Maximum Rental Term
12
Occupancy
Tenant
Possession Date
Flexible
Taxes (2024)
$5,165
Tax Type
Annual
Maintenance Fees
$1,500
Directions/Cross Streets
Glendale Road
Area
Hastings
Price History
Interested in obtaining the full price history for this property? Contact us!Contact us! Our real estate professionals would be happy to provide a complete listing history with historical sold prices and dates.
Detailed Information
Freestanding
Y
Bathrooms
5
Lot
86.33 x 124.3 ft
Total Area
2,958 ft2
Approximate Age
51-99
Air Conditioning
Part
Basement
Y
Chattels
Y
Garage Type
None
Amps
200
Heat Type
Gas Forced Air Open
Gross Income/Sales
$62,247
Net Income Before Debt
$42,283
Hydro Expense
$700
Heat Expenses
$2,329
Insurance Expense
$2,957
Management Expense
$6,712
Operating Expenses
$19,964
Taxes Expense
$5,165
Other Expenses
$600
Year Expenses
$2,024
Expenses Actual/Estimated
Est
Percentage Rent
100
% Building
100
Area Influences
Major Highway, Public Transit
Sprinklers
Part
Utilities
Y
Water
Municipal
UFFI
No
Lot/Bldg/Unit Code
Building
Zoning
R2
Seller Property Info Statement
N
The information contained on this site is based in whole or in part on information that is provided under copyright by the Toronto Regional Real Estate Board (TRREB) or by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. TRREB and CREA reproduce and distribute this information as a service for their members and assume no responsibility for its accuracy. All information displayed is believed to be accurate but is not guaranteed and should be independently verified. No warranties or representations of any kind are made with respect to the accuracy of such information. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose.