Innovative Realty Inc.

Brokerage

Kannan Panchalingam

Direct : (647) 928-8889

kannanhomes@yahoo.com

58 Elgin Street, Belleville, ON K8P 4B2 (West Moira)
$ 2087500 - MLS : X12945496

From Our Gallery

Description

58 & 60 Elgin Street at $2,087,500 each. Each building consists of 11 two bedroom and 1 one bedroom units, for a total of 24 units.As of Feb.01/26 there are 2 vacancies consisting of 1 two bedroom newly renovated and 1 one bedroom (58-01) which is currently used as a workshop/office.As of the Feb. 2026 rent roll the current monthly income is $25,030. (-potential income fully rented at current market rents would be an additional $2675. For a total of $27,705.).Primary expenses: - Property Taxes $28,311.82 Insurance $6624. Utilities (water & hydro) 2024 $24,255. 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

Location Description

West Moira

Property Detail

Community: Belleville Ward
Property Type: Tenant/Commercial
Garages: None
Annual Property Taxes : $ 28311.82

Lot dimensions: sqft
Baths:

Facts and Features

Parking Type : None

Amenities

Heating : Baseboard
Sewer : Sanitary ,

Listing Contracted With: RE/MAX QUINTE LTD.

Kannan Panchalingam

Sales Representative

( 5 Reviews )

While I like to think that real estate is in my blood, shameless self-promotion is not. Unfortunately, that's part of the business so here's the painful bit about who I am and what makes me tick. The Toronto region has been my home all my life, and I love this area.

kannanhomes@yahoo.com

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