Waterfront investment property with great growth potential. 2 duplexes on one lot downtown Belleville. 2 detached homes comprised of a total of 4-1 bedroom apartments. Central location downtown Belleville. Zoned commercial 3-5. Both houses have natural gas heat. One is forced air furnace & the other home has a boiler. Some updates include shingles, flooring & both front porches. New toilet and bathroom flooring in 245B. Great cap rate of 7.5% presently but with an Owner not looking for property management services that rate increases substantially. Fully occupied with the newest Tenant in 245B at $900 all inclusive. 1-min walk to downtown, close to shopping, restaurants & the waterfront trail. City transit right at the front door. Landlord pays all utilities. Gross rents $39,958.80 a year. Expenses $16,532 leaving a net income of $23,426.80 Cap rate of 7.5%. 24-48 hours notice required for all showings. 3 of the 4 apartment available to be shown prior to having an accepted offer
Bridge Street West to Coleman Street. Turn North on Coleman and houses are on East side just before Catherine Street. #243 and #245. Sign on the property. Parking available in the parking lot to North of property.