For Sale · Multifamily

8 DUNBAR STREET, Belleville (Belleville Ward)

8 DUNBAR STREET, Belleville (Belleville Ward), ON K8P3R5

$324,900 total

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Asset Class

Multifamily

Size

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Building class

B

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

94%

About this property

ATTENTION ALL INVESTORS AND FIRST-TIME HOME BUYERS!!! This FULLY VACANT duplex presents an outstanding opportunity to generate immediate rental income or offset your mortgage by living in one unit while renting the other. Ideally located on a quiet street in Belleville's desirable West Hill, this property is within walking distance of downtown Belleville, the waterfront trail, shopping, restaurants, and local amenities. The bright and spacious main-floor unit features 2 bedrooms, 1 bathroom, and an abundance of natural light throughout. This unit was previously rented for $2,250 per month inclusive. Additional features include access to the basement laundry area with a washer and dryer. The upper-level bachelor suite was previously leased for $700/month and offers a functional layout with a kitchen, combined bedroom/sitting area, and a 3-piece bathroom, making it an attractive option for a single tenant or short-term rental opportunity. Operating costs are very reasonable, with combined hydro expenses averaging approximately $276 per month for both units, natural gas averaging just $49 per month, and water costs averaging approximately $85 per month. Whether you're looking to expand your investment portfolio or purchase your first home with built-in income potential, this fully vacant duplex offers flexibility, strong rental potential, and an excellent location. (id:66811)

Financial sandbox

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Estimate
Purchase price$325K
Down payment30% · $97K
Interest rate6.25%
Amortization25 years
Occupancy94%
Expense growth2.5%

Monthly debt service

$2K

Projected NOI

$16K

Annual cash flow

$-2K

Cash-on-cash

-2.17%

DSCR

0.88

Going-in cap

4.89%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

99,527

Households

36,892

Median income

$95,500

Median age

45.3

Daytime population

152,914

5-yr growth

2.1%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 8 DUNBAR STREET, Belleville (Belleville Ward).

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.