243-245 Coleman Street
- Investment Property with room to grow
- Type: Multifamily
- Style: 2 Storey
- Bedrooms: 4
- Bathrooms: 2
- Size: 2,774 sq. ft.
- Development Level: Built
- Lot Type: Irregular
- Lot Size: 50ft x 63ft
- Suite: Yes
- Year Built: 1920 "One built in 1920 one is older"
- Taxes: $4,092.00 (2017)
- MLS ® #: 144021
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 $3187.50 per month. $38253 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 $21721.00. 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. No sign on the property. Parking available in the parking lot to North of property.
Information is deemed to be correct but not guaranteed.
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