Exit Realty


243-245 Coleman Street Belleville, Ontario K8P 3H8

2774 sqft
Multi-Unit None Forced Air, Hot Water Radiator Heat Waterfront On River


Waterfront investment property with great growth potential. 2 duplexes on one lot downtown Belleville. 2 detached homes comprised of a total of 4-1 bedroom apartments. Central location downtown Belleville. Zoned comm. 3-5. Both have natural gas heat. One has a forced air furnace & the other a boiler system. Some updates include shingles, flooring & both front porches. New toilet and flooring in a bathroom in 245B. Good cap rate of 7.3% presently but with an Owner not looking for property management that number increases substantially. Fully occupied with new Tenant going into 245B at $900 all inclusive. 1-min walk to downtown, close to shopping, restaurants & the waterfront trail. City transit right at the front door. Landlord pays all utilities. Gross rents $39,794.40/year. Expenses $16,532 leaving a net income of $23,262.40 Cap rate of 7.3% at full asking price. 24-48 hours notice required for all showings. 3 of the 4 apartment available to be shown prior to offer. (id:28587)

Property Details

MLS® Number 163491
Property Type Multi-family
Amenities Near By Public Transit, Schools
Equipment Type Water Heater
Parking Space Total 1
Rental Equipment Type Water Heater
View Type River View
Water Front Name Moira
Water Front Type Waterfront On River


Age New Building
Appliances Stove, Refrigerator
Architectural Style Multi-unit
Basement Development Unfinished
Basement Type Full (unfinished)
Cooling Type None
Exterior Finish Vinyl Siding
Fire Protection Smoke Detectors
Fireplace Present No
Foundation Type Block, Stone
Heating Fuel Natural Gas
Heating Type Forced Air, Hot Water Radiator Heat
Stories Total 2
Size Interior 2774 Sqft
Type Multi-family


Acreage No
Land Amenities Public Transit, Schools
Sewer Municipal Sewage System
Size Depth 63.000000 Ft
Size Frontage 50.000000 Ft
Size Irregular 50 X 63 Irreg
Size Total Text 50 X 63 Irreg|under 1/2 Acre
Zoning Description C 3-5


Cable Available



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