Property Information:

ATTENTION INVESTORS - Rare 8-Plex Opportunity in Belleville's East End. Positioned on a generously sized lot in one of Belleville's established east-end neighborhoods, this tenanted and well-maintained multi-residential property offers immediate cash flow with a significant future upside. Featuring 8 existing residential units, this is the kind of investment opportunity that combines stability today with development potential for tomorrow. What truly sets this property apart is the future expansion opportunity. Zoned R3, the property may permit up to 7 more residential units based on current lot size and zoning provisions - subject to required approvals. The City of Belleville Planning Department recently confirmed this potential in writing, and supporting documentation is available. A planning and development firm was previously retained to prepare conceptual site plans and conduct pre-consultation discussions with the city, laying important groundwork for future development possibilities. Extensively cared for over the years, the property has seen numerous major capital improvements including updated plumbing and windows (2012), paved driveway (2012), boiler and hot water holding tank (2022), water and sewer lines (2023), and brand-new sidewalks (2024). Several units have also undergone significant renovations, including updated kitchens and bathrooms in Apartments 2, 3, 4, and 8. Located close to amenities, transit, schools, and downtown Belleville, this is an exceptional opportunity for investors looking to strengthen their portfolio with a proven income-producing property while securing long-term development potential in a growing market. Opportunities like this are rarely available - invest in cash flow today while planning for the possibilities of tomorrow. (id:27)

Building Features:

Style: Multiplex
Building Type: Other
Basement Development: Unfinished
Basement Type: Full
Exterior Finish: Brick
Floor Space: 700 - 1100 sqft
Foundation Type: Poured Concrete, Stone
Heating Fuel: Natural gas
Cooling Type: None
Appliances: Dishwasher, Dryer, Stove, Washer, Refrigerator

Property Features:

Property Type: Multi-family
Bedrooms: 18
Bathrooms: 8
Features: Lane
Floor Space (approx): 700 - 1100 Square Feet
Irregular: Yes
Lot Depth: 265.8 Feet
Lot Frontage: 100 Feet
Lot Size: 100 x 265.8 FT
Sewer: Sanitary sewer
Parking Type: No Garage
No. of Parking Spaces: 20

Courtesy of: Re/Max Quinte Ltd.

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Demographic Information of 215 VICTORIA AVENUE, Belleville (Belleville Ward), Ontario, K8N 2C2

Life Stage

Midlife Families

Employment Type

Service Sector/White Collar

Average Household Income

$113,719.93

Average Number of Children

1.60

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

17.62 %

High school certificate or equivalent

28.62 %

Apprenticeship trade certificate/diploma

4.53 %

College/non-university certificate

25.24 %

University certificate (below bachelor)

2.94 %

University Degree

21.05 %

Commuter

Travel To Work

By Car

80.75 %

By Public Transit

2.49 %

By Walking

10.56 %

By Bicycle

0.0 %

By Other Methods

6.2 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

30.61 %

Houses

69.39 %

215 VICTORIA AVENUE, Belleville (Belleville Ward), Ontario, K8N 2C2