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With rents on the rise, buy-and-hold rental investment is a shining star in today's real estate market. Once in a great while, we find an income property like this one. Owned by the same family for over 40 years this 6-7 unit property is a moneymaker. Currently, there are 4-1 bedroom units and 2 bachelors. The 7th is currently the owner's office and could be rented as a studio\room at $750/month. All units have separate/private entrances (no hallways) and 4 units have metered utilities which the tenant pays. With a potential Gross Income of $90,000 the property nets approximately $76,000 before financing with a CAP of almost 9%. The property is in excellent condition with all wiring, plumbing, and fire code updated. 2 units are newly refreshed and vacant. You can set your own rent. One of the 1 bedroom units is expected to be vacant in the near future. With a simple renovation, it will attract a premium rent. There is a large backyard and parking for most of the units. Located in a developing area of Belleville with several brand new multi-res buildings nearby. Close to downtown, riverfront trail, and public transportation. This is one not to be overlooked! (id:24093)
Listed by Judi Rufo and of Royal LePage ProAlliance Realty,Brokerage

Property Details of 121 Station Street

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"Based on information submitted to CREA as of September 25, 2022 . All data is obtained from various sources and has not been, and will not be, verified by broker or CREA.  All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing."

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