Property Details

28 SINCLAIR Street, Belleville, Ontario, K8P3S6

28 SINCLAIR Street, Belleville, Ontario, K8P3S6 (ID 40258144)
Representative
Ted Cassidy portrait
Ted Cassidy
Sales Representative
RE/MAX Quinte Ltd. Brokerage - Tweed
Cell: 613-921-5111
Tel: 613-478-9907

$599,900 - For sale

ID#:40258144

Attention investors. Fantastic legal triplex in convenient Belleville location, close to town & amenities. Mainly brick building offers 2 Two-bdrm units & 1 Three-bdrm unit. Building is metered separately & tenants pay their own hydro. Central furnace shares heating to all 3 units but mainly heated by electric baseboard, paid by tenants. Landlord pays gas & water/sewer. Property grosses $54,600 annually in rental income (projected based on market rent for one empty unit). Fantastic yard with lots of parking & detached dbl garage (currently used by Apt.C). Apt A is 2 lvls & tenant pays $1600/month plus hydro. Updated unit has 3 bdrms, 4pce. bath, full laundry, newer flooring & breaker panel (9 months remaining on 1 yr lease). Parking for 2 cars. Apt.B is an upper lvl, 2 bdrm, 1 bath with Cathedral ceiling, charming windows, washer/dryer & recently renovated. Unit is currently vacant for new landlord to choose tenant & set own rent. Projected rent would easily be $1700/month + hydro. Parking for 4 cars. Apt. C has great tenant that maintains the yard & has access to garage. Unit is stunning & well laid out. 2 bdrms, updated bath, newer kitchen, hdwd floors, newer windows, patio door & dedicated laundry. Tenant pays $1250 + hydro & has been in building since Dec 2020. Parking for 4 cars. Property grosses $54,600 annually and expenses are approximately $8,847 for a net operating income of $46,211/annually. At these numbers, this lucrative investment property provides an incredible 7.7% cap rate. Landlord pays: water/sewer & natural gas. Landlord owns both HWTs (2 tanks). Updates in electrical & plumbing. Furnace 3yrs old. Solid numbers, excellent location & great condition. NOTE: TENANT IN UNIT A ($1600/MTH) IS PLANNING ON LEAVING END JUNE, LEAVING ABILITY FOR NEW OWNER TO SET THEIR OWN RENT. PROJECTED RENT FOR THIS 3 BED UNIT IS APPROX. $2000/MTH. THIS INCREASE IN AMOUNT IS NOT TAKEN INTO ACOOUNT FOR FINANCIAL NUMBERS AND WILL IMPROVE NOI TO OVER 50K ANNUALLY. (id:2471)

Location DescriptionSidney Street to Bridge Street West to Sinclair Street

Virtual Tour Property Details
  • Property Address:28 SINCLAIR Street, Belleville, Ontario, K8P3S6
  • Property Type:Multi-family
  • Title:Freehold
  • Lot Size:0.147
  • Acreage:0.147 ac|under 1/2 acre
  • Sewage Type:Municipal sewage system
  • Water Type:Municipal water
  • Access:Road access, Highway access
  • Driveway:Detached Garage
Structure Details for 28 SINCLAIR Street, Belleville, Ontario, K8P3S6
  • Structure Style:Triplex
  • Bedrooms:7
  • Bathrooms:3
  • Floor Space:2800
  • Heating Type:Natural gas, Baseboard heaters, Forced air
  • Style:Detached
  • Storeys:2
  • Basement Type:Crawl space (Unfinished)
  • Foundation Type:Stone
  • Cooling Type:None
  • Appliances Included:Microwave Built-in
  • Rental Equipment:None
  • Exterior Type:Brick, Vinyl siding
Amenities for 28 SINCLAIR Street, Belleville, Ontario, K8P3S6 Golf course/parkland, Paved driveway, Crushed stone driveway, Community Centre, School Bus
  • Amenities Nearby:Golf Nearby, Hospital, Marina, Place of Worship, Playground, Schools, Shopping
Representative
Ted Cassidy portrait
Ted Cassidy
Sales Representative
RE/MAX Quinte Ltd. Brokerage - Tweed
Cell: 613-921-5111
Tel: 613-478-9907
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28 SINCLAIR Street, Belleville, Ontario, K8P3S6

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