201 VICTORIA AVENUE, Belleville (Belleville Ward), Ontario, K8N2B9

Property Description

Excellent investment opportunity in a desirable Belleville neighbourhood. This well-maintained 11-unit brick apartment building offers strong rental potential with recent tenant turnovers that has improved rents. A number of units have been recently renovated, enhancing both appeal and long-term value. The property features separately metered hydro, with tenants responsible for their own electricity, helping to control operating costs. Each tenant has their own hot water tank. Major capital improvements include a new boiler, upgraded vinyl windows, and a completed fire retrofit, providing peace of mind for investors. Additional amenities include coin-operated laundry for added income and convenience for tenants. Solid brick construction, concrete columns in hallways separating apartments, solid built building. The location is in a great Belleville neighbourhood and makes this a compelling addition to any investment portfolio. Because of the quality of the building and location there has not been much tenant turnover. Current Annual Rent = $135,540. Annual Expenses (2024): Water $4,650, Hydro $4,478, Gas $5800 (estimated), Reliance $1,149 (id:64974)

Quick Facts

• Property Type: Other
• Bedrooms: 17 (17 above)
• Bathrooms: 11
• Parking: 11 spaces (No Garage)
• Frontage: 100 ft (30.5 m)

Costs

• Annual Taxes: $23,486.00

Listing Provided by: RE/MAX QUINTE LTD.
Board: Central Lakes Association of REALTORS®
Data provided via CREA DDF®.