48 Alexander Street, Belleville | Image 1

48 Alexander Street

Belleville

  • - bed - bath
$X,XXX,XXX est.*: $15,210/mo
For Sale

Added 3 months ago

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  • Type: Multiplex

  • Style: 2-Storey

  • Lot Size: 65.75 x 300 Feet

  • Age: No Data

  • Taxes: $45,165 per year

  • Days on Site: 10 Days

  • Added: Sep 10, 2024 (3 months ago)

  • Updated:

  • Last Checked: 3 hours ago

  • MLS®#: X9343998

  • Listed By: Marino locations limited

24 unit residential apartment building available for the first time since 1986 on the north side of Alexander Street between Mt. Pleasant Rd. & Ann St. in central Belleville, ON. The building is nearly 96% occupied with only 1 unit currently vacant; 20 of the units are 2 bedroom (appx. 870 SF) and 4 of the units are 1 bedroom (aprx. 680 SF). There are approximately 30 parking space in total with each unit having 1 designated parking space with the remaining 6 parking spots being for visitors in addition to nearby street parking. The steel roof has has been repaired 3 years ago and remains in good condition with 20+ years of remaining life expected. There is a common laundry room facility paid for by the tenants using machines rented by the landlord at a cost of $200 per month. 7 water heaters are owned with 1 being rented from Reliance. Municipal taxes in 2024 were $45,164.63. Additional financial information including the revenues/expenses can be shared confidentiality with serious buyers only. The MLS system only permits a listing to include a maximum of 9 bedrooms and 9 kitchens, but please note that is not accurate since there are actually 44 bedrooms in total and 24 kitchens in total (1 per suite). Tours must be arranged in advance as the building is locked at all times & tenants may need to be notified in advance. This building produces excellent monthly revenue, which can be increased every year in accordance with the residential tenancies act. There are also opportunities for cost savings on operational expenditures to significantly increase the net operating income & therefore the value of this property, making it an attractive investment opportunity at a reasonable price. Take advantage of the decreasing interest rates being offered by banks today!

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Property

  • Status: Sale

  • Property Type: Multiplex

  • Style: 2-Storey

  • Area: Belleville

  • Availability Date: On closing

Inside

  • Bedrooms: 9

  • Bathrooms: 24

  • Kitchens: 9

  • Rooms: 24

  • Den/Family Room: Yes

  • Air Conditioning: Other

  • Fireplace: No

  • Washrooms: 24

Building

  • Basement: None

  • Heat Type: Radiant

  • Heat Source: Electric

  • Exterior: Brick

  • Water Supply: Municipal

  • Special Designation: Unknown

Parking

  • Driveway: Other

  • Garage Type: None

  • Covered Parking Spaces: 30

  • Total Parking Spaces: 30

Fees

  • Tax Year: 2024

  • Tax Legal Description: PT LT 14 S/S HILL PL 126 THURLOW; PT LT 28 MEYERS ORCHARD PL HAS

  • Taxes: $45,165

Land

  • Cross Street: Ann Street

  • Municipality District: Belleville

  • Fronting On: North

  • Parcel Number: 405140053

  • Pool: None

  • Sewer: Sewers

  • Lot Depth: 300 Feet

  • Lot Frontage: 65.75 Feet

  • Acres: < .50

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Very Walkable

  • Most errands can be accomplished on foot.
79 /100

Very Bikeable

  • Most errands can be accomplished on bike.
80 /100
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Map of 48 Alexander Street, Belleville
JK-8

Queen Elizabeth Public School

Elementary: Public
1.36 km
JK-8

Holy Rosary Catholic School

Elementary: Catholic
0.92 km
JK-6

Queen Victoria School

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0.57 km
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Prince Charles Public School

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1.44 km
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Prince of Wales Public School

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1.11 km
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St Michael Catholic School

Elementary: Catholic
0.38 km
9-12

Sir James Whitney School for the Deaf

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2.98 km
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Nicholson Catholic College

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0.32 km
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Moira Secondary School

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2.28 km
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St Theresa Catholic Secondary School

Secondary: Catholic
2.21 km
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Centennial Secondary School

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2.56 km

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