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MLS®: X13217592 |
Status: For sale
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Location:
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215 Victoria Avenue, Belleville (belleville Ward) Ontario, K8N2C2
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Description: |
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:2471) |
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Property: |
| Type: Multi-family |
| Lot Dimensions: 100 x 265.8 FT | Acreage: 100 x 265.8 FT |
| Sewer: Sanitary sewer | Water: Municipal water |
| Parking Type: No Garage |
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Structure: |
| Style: Other | Square Footage: 700 - 1100 sqft |
| Bedrooms: 18 | Bathrooms: 8 |
| Heating Type: Natural gas |
| Cooling Type: None |
| Exterior: Brick |
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Foundation Type: Poured Concrete, Stone |
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Features:
 | Lane |
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BALL Real Estate Inc., Brokerage - Norwood
Jayne Porter
Sales Representative
Email Me
Telephone:705-660-2255
Cellular:416-435-2005
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Listing Office: Re/Max Quinte Ltd.
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