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$ 1,690,000
Est. payment | /mo
18 Beds
8 Baths
700 SqFt
$ 1,690,000
Est. payment | /mo
18 Beds
8 Baths
700 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 700 - 1100
Square Footage 700 sqft
Price per Sqft $2,414
Subdivision Belleville Ward
MLS® Listing ID X13217592
Bedrooms 18
Property Description
ATTENTION INVESTORS - Rare 8-Plex Opportunity in Belleville's East End. Positioned on a generously sized lot in one of Belleville's established east-end neighborhoods, this tenanted and well-maintained multi-residential property offers immediate cash flow with a significant future upside. Featuring 8 existing residential units, this is the kind of investment opportunity that combines stability today with development potential for tomorrow. What truly sets this property apart is the future expansion opportunity. Zoned R3, the property may permit up to 7 more residential units based on current lot size and zoning provisions - subject to required approvals. The City of Belleville Planning Department recently confirmed this potential in writing, and supporting documentation is available. A planning and development firm was previously retained to prepare conceptual site plans and conduct pre-consultation discussions with the city, laying important groundwork for future development possibilities. Extensively cared for over the years, the property has seen numerous major capital improvements including updated plumbing and windows (2012), paved driveway (2012), boiler and hot water holding tank (2022), water and sewer lines (2023), and brand-new sidewalks (2024). Several units have also undergone significant renovations, including updated kitchens and bathrooms in Apartments 2, 3, 4, and 8. Located close to amenities, transit, schools, and downtown Belleville, this is an exceptional opportunity for investors looking to strengthen their portfolio with a proven income-producing property while securing long-term development potential in a growing market. Opportunities like this are rarely available - invest in cash flow today while planning for the possibilities of tomorrow. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Cooling None
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 20
Garage No
Private Pool No
Building
Story 2
Sewer Sanitary sewer
Others
Virtual Tour https://youtu.be/drRe0ovEKVI
Listed by Re/Max Quinte Ltd.
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