58 Elgin StreetBelleville, Hastings, ON, K8P 4B2
58 Elgin StreetBelleville, Hastings, ON, K8P 4B2
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Listing History
Buy/sell history for 58 Elgin Street, Belleville, ON K8P 4B2
| Date Start | Date End | Event | Price | MLS# |
|---|---|---|---|---|
0 Transactions by Capital Prime Realty Brokerage Agents
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Description
58 and 60 Elgin Street, offered together at $1,895,000 per building. Two adjacent 12-unit buildings with 24 suites in all: 22 two-bedroom and 2 one-bedroom. 23 suites are occupied. The one-bedroom at 58-01 is vacant and in use as the seller's workshop. Net operating income on rents in place is $201,561 for the two buildings combined, a 5.3% cap rate at the combined price with substantial upside. Rents in place are below market. Tenants pay heat and hydro, and every suite is separately metered. Both buildings have new fire alarm systems, installed in 2023 and 2024 at a cost of about $100,000, with notifier communication to the Belleville Fire Department. Windows are about 90% replaced at 58 Elgin and about 70% at 60 Elgin, and all were flashed in 2025. 24 surface parking spaces. One superintendent covers both buildings. This property is to be sold with the adjacent 12-plex listing.
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$1,895,000
List price