48 Alexander Street, Belleville, ON K8N 2H3, Belleville, ON
Bed 9
Bath 24
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!
Property Highlights
For Sale
MLS NO.
X9343998
Type
Residential Freehold
Sub Type
Multiplex
Bedrooms
9
Bathrooms
24
Parking
30.0
Complete Property Details
Property Type
Residential Freehold
Sub Type
Multiplex
Transaction Type
For Sale
Status
Closed
Contract Status
Unavailable
MLS® Number
X9343998
Living Area Range
< 700
Total Bedrooms
9
Bedrooms Above Grade
9
Total Bathrooms
24
Total Kitchens
9
Kitchens Above Grade
9
Rooms Above Grade
24
Interior Features
Water Heater
Fireplace
No
Central Vacuum Yn
No
Construction
Brick
Roof
Metal
Lot Width
65.75
Parking Features
Other
Parking Total
30.0
Covered Spaces
0.0
Garage Type
None
Pool
None
Direction Facing
North
Cooling
Other
Heat Source
Electric
Heat Type
Radiant
Internet Address Display Yn
Yes
Internet Entire Listing Display Yn
Yes
Full Address
48 Alexander Street, Belleville, ON K8N 2H3
City
Belleville
Neighbourhood
Belleville Ward
County / Region
Hastings
Province / State
ON
Postal Code
K8N 2H3
Cross Street
Ann Street
Country
CA
List Price
$4,490,000
Annual Taxes
$45,165
Tax Year
2024
Legal Description
PT LT 14 S/S HILL PL 126 THURLOW; PT LT 28 MEYERS ORCHARD PL HASLETTS THURLOW PT 1 21R14444; BELLEVILLE ; COUNTY OF HASTINGS
Possession Details
On closing
Listing Office
MARINO LOCATIONS LIMITED
Board
Central Lakes Association of REALTORS
Original Entry
2024-09-11T18:39:27Z
Media Updated
2024-09-11T18:39:27Z
Photos Updated
2024-09-11T18:39:27Z
Last Modified
2025-05-15T13:54:51Z
System Modified
2025-10-11T18:17:07.754018Z
MLS Status
Sold
Architectural Style
2-Storey
Basement
None
Ddfyn
Yes
Expiration Date
2025-07-31
Foundation Details
Block
Heat Source Multi
Electric
Heat Type Multi
Radiant
Hstapplication
No
Occupant Type
Tenant
Originating System Id
A00001796
Parcel Number
405140053
Parking Spaces
30
Public Remarks
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!
