2 Duplexes on one Waterfront lot
4 Bedrooms2 Bathrooms
For Sale - Offered at $319,900

Location Map

Property Details

           243-245 Coleman Street


Price: $319,900
Status: Active
PIN / MLS® #: 144021
Address: 243-245 COLEMAN ST
Side of Road: East
Lot Size: 50 X 75 IRREG
Approx. Sq Ftg Range: 3001-3500
Major Area: Belleville
District: Belleville
Subdistrict: WEST OF MOIRA RIVER (Belleville)
Zoning: C-3-5
Elementary School:  
Secondary School:  
Property Overview Waterfront investment property with lots of room for growth. Two duplexes in town on waterfront lot. 2 detached homes comprised of a total of 4-1 bedroom apartments. Central location downtown Belleville. Zoned Commercial 3-5. Both have natural gas heat. One home has a forced air furnace and the other a natural gas boiler system. Some updates including shingles, flooring & both front porches. Both main floor units have recently been updated including a new bath in 245A. New toilet and floor upstairs also recently put in the bathroom in 245B. This investment property has great potential for growth and to build equity. Good cap rate presently but with a hands-on Owner not looking for property management services that number increases substantially. Fully occupied, low turnover. 1-minute walk to downtown Belleville, shopping, Restaurants and waterfront trail. City transit right at the front door. Landlord pays all utilities. Gross rents equals $3199. per month. $38388 per year. Expenses equal $16532.00 a year which includes property management fee of $1875.00 per year. Leaving an annual net operating income of $21856.00. 24 hours notice required for all showings. MLS 144021
Directions  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.
Inclusions Smoke Detector / 4 stoves, 4 fridges
Exclusions All Tenants belongings
Type: Fourplex
Title To Land: Freehold
Property Size: Under 0.5 Acres
Accessory Buildings:  
Rental Equipment: Hot Water tank
Documents On File: Land Survey
1st Heat Source: Forced Air-Gas, Hot Water-Gas, Natural Gas
2nd Heat Source:  
HVAC Features:  
Water: Metered, Municipal Installed
Sewage: Municipal Installed
Driveway: Gravel, Single
Foundation/Bsmt: Block, Stone
Roof: Asphalt Shingle
Flooring: Vinyl/Linoleum
Interior Features: Carbon Monoxide Detector, Smoke Detector
Exterior: Vinyl Siding
Exterior Features: Porch
Water Type:   WF (# Ft On Water): 50.00 S.R.A: None Shoreline: Rocky, Shallow
Waterfront Features: Waterfront
WF Accessory Buildings:   WF Exposure: East
Com/Ret Space: No
Rent Control: Yes
Lockbox:   SPIS:  
Vermiculite: UNKNOWN Garage: No
# Of Parking Spaces: 1 Parking:  
# outdoors spaces:   # Indoor spaces:  
Property For: Sale Sale Type:  
Approx. Age Range: 1920
1 Bedroom Units: 4 2 Bedroom Units:   3 Bedroom Units:  
4 Bedroom Units:   Bachelor:   Number of Rental Units: 4
Fire Retrofit: NO # Vacant:  0 # Occupied: 4
stoves: 4 dishwashers:   washers:  
dryers:   microwaves:   fridges: 4
Income Information
rental income: 38388.00 laundry income:  0.00 parking income:  0.00 other income:  0.00
Expense Information
insurance: 1800 maintenance: 800 water/sewage: 1200 heating bill: 2100 electricity bill: 4100
lawn/snow:   management: 1875 taxes cost: 4092.00 garbage:   other costs: 565.00
approx total income: 38086.80 approx total expenses: 16536.22 approx net income: 21550.58
Full Assessed Value: $253,500 (2018) Current Assessed Value: $253,500 (2018) Taxes: $4092.00 (2017) Improvements:  Roof,front decks, interior
Annual Hydro Cost: 4100 Annual Heating Cost: 2100
Listing Office: RE/MAX QUINTE LTD, Brokerage – TRENTON :  
Compliments of:   JASON WOOD, Sales Person: 613-392-6594
E-mail:   mr.jasonwood@gmail.com
Company Name:   RE/MAX QUINTE LTD, BROKERAGE – TRENTON: 613-392-6594
The information contained herein while deemed to be accurate is not guaranteed.
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