170 College Street West, Belleville

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 yard areassome 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. 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. Managed by a local PM company. Turn key property with a 6.1% cap rate.\t\rFire-rated furnace room with sprinklers for fire compliance. 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 for gas heat. 5 Glendale & basement (utility area) available for viewings prior to receiving an accepted offer. It is a great income property with a 6.0% cap rate at the asking price and substantial room for growth.Electric baseboards are not used. Current rents still have real growth potential.For 2024 FinancialsINCOME\t\rRental Income:                       $62242.00 a yearEXPENSESTaxes:                                      $5,165.00\tHeat:                                       $2,329.00\t\t\rHydro:                                     $700.00Insurance:                             $2,957.00\tProperty Management  $4800.00Maintenance:                      $1,500.00\tSnow & Grass                      $600.00 TOTAL EXPENSES             $18051.00NOI:                                            $44194.00Inclusions:\t5 Refrigerators, 5 Stoves, 5 Hot water tanks, Smoke and CO detectors, 2 built-in AC units, and most blinds and window coverings.\t\rExclusions:\tAll Tenant's Belongings and some items in the basement\t\rRental Items:\tNone