249-253 Front Street Belleville, Ontario K8N 2Z6
$4,359,500
Introducing a prime investment opportunity: The Burrows Building in downtown Belleville! This versatile property offers a mix of commercial and residential units, providing multiple income streams. The building features 3 commercial spaces and 11 residential units, including 8 bachelor apartments, 1 two-bedroom, and 2 one-bedroom apartments. The residential units have been recently renovated, combining modern amenities with the building's historic charm. Some units are fully furnished and licensed for short-term rentals, catering to both long-term and short-term tenants. The Burrows Building has undergone significant upgrades in the last three years, including structural improvements, a new lower roof, site grading, updated drainage, new windows, and enhanced security with surveillance cameras. With stable rental income and potential for growth, the Burrows Building is a fantastic opportunity to expand your investment portfolio. NOI approx. $262,000. (id:28587)
Property Details
| MLS® Number | X9375596 |
| Property Type | Multi-family |
Building
| CoolingType | Fully Air Conditioned |
| HeatingFuel | Natural Gas |
| HeatingType | Hot Water Radiator Heat |
| SizeInterior | 12722 Sqft |
| Type | Multi-family |
| UtilityWater | Municipal Water |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| SizeDepth | 178 Ft ,10 In |
| SizeFrontage | 60 Ft ,4 In |
| SizeIrregular | 60.4 X 178.88 Ft |
| SizeTotalText | 60.4 X 178.88 Ft |
| ZoningDescription | C2-3 |
https://www.realtor.ca/real-estate/27486363/249-253-front-street-belleville
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Joseph Kehoe
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October 01 2024 04:30:55
Durham Region Association of REALTORS®
RE/MAX Quinte Ltd.