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$2,585,000
Status: For Sale
16-unit apartment building for sale listed at a 5.9% cap rate. The property is well located in close proximity to Belleville's downtown and has easy highway 401 access. Some apartments have been renovated on unit turnover and building common areas updated. The building's rent roll has close to 30% in upside to market rents. Current annual net operating income is $150,779 per year with future upside in rents still to capture. Environmental Opinion Letter regarding the sites environmental condition is available.
Property Type | :Residential Income |
MLS Number | :40615005 |
Listing Type | :Sale |
Property Age | :51-99 Years years |
Possession Date | : |
Last Updated | :03 Jul, 2024 (79 Days ago) |
Source | :Kingston |
Area | :Hastings |
City | :Belleville |
Area Major | :Belleville |
Area Minor | :Thurlow Ward |
Postal Code | : K8N 4V3 |
Directions | :Cannifton Rd. South of College St. E |
Price | : $2,585,000 |
Property Taxes | :$33271 |
Tax Year | :2023 |
Bedrooms | :3 + |
Heating | :Electric |
Place of Worship | :No |
Cross Street | :College St. E |
Bathrooms | :2 |
Approx Square Footage | :12575 sqft |
Parking Space | :16 |
Basement | :Full |
Garage | :0 |
03 Jul, 2024
TREB #40615005
Listed
$2585000
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