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Business For Sale · Multifamily

58 ELGIN STREET, Belleville (Belleville Ward)

58 ELGIN STREET, Belleville (Belleville Ward), ON K8P4B2

$1.9M total

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Asset Class

Multifamily

Size

—

Building class

C

Zoning

RA9 — High Rise

$ / SF

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Occupancy

90%

About this property

58 & 60 Elgin Street at $1,945,000 each. Each building consists of 11 two bedroom and 1 one bedroom units, for a total of 24 units. There is 1 vacant unit consisting of one bedroom (58-01) which is currently used as a workshop/office.As of the August 1, 2026 rent roll the current projected monthly income for 58 and 60 is $27,857.90. Primary expenses: - Property Taxes $28,311.82 Insurance $8,323 water $12,050 hydro $10,348. Fire alarm monitoring 2025 $1224. Bell phone (fire alarm communication) 2025 $1080. Waste collection 2025 $2280. Grass & snow maintenance 2024 $3000. NOTES:Both buildings have newly installed fully functioning fire alarm systems with notifier communication to Belleville Fire Dept. currently monitored by Alarm Systems Belleville. Total cost of retrofit in 2023/2024 was approximately $100,000.Window replacement at 58 Egin is approx. 90%. All windows have been fully flashed in 2025 ($8000.)Window replacement at 60 Elgin is approx. 70%.This property to be sold with adjacent 12 Plex listing (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$1.95M
Down payment30% · $584K
Interest rate6.25%
Amortization25 years
Occupancy90%
Expense growth2.5%

Monthly debt service

$9K

Projected NOI

$75K

Annual cash flow

$-33K

Cash-on-cash

-5.62%

DSCR

0.70

Going-in cap

3.85%

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

94,599

Households

44,976

Median income

$134,500

Median age

36.2

Daytime population

81,617

5-yr growth

2.3%

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

Secure deal room

Confidential diligence documents for 58 ELGIN 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.