58 Elgin Street
Belleville, ON
- 14,757 sqft
- Investment
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. Investment summary available on request. 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.
Listing Details
- Taxes (2025)
- $28,312
- Originally Listed
- $2,087,500
- Listed
- April 1, 2026
Price History
Property
- Age
- 31-50
- Lot Size
- 102.36 x 137.51 Feet
Parking
- Garage
- None
Utilities
- Sewer
- Sanitary
Location & Legal
- Cross Street
- West Moira
- Zoning
- R6
- Parcel Number
- 404570088
- Possession
- Flexible
- Occupancy
- Tenant
Commercial
- Business Type
- Apts - 6 To 12 Units
Included
- Inclusions
- 10 Fridges, 12 Stoves, 2 Washers, 2 Dryers, Hot Water Tank (4)
Community
Postal area K8P
- Population
- 23,166
- Private dwellings
- 10,592
- Median age
- 44.4
- Average household size
- 2.2
- Median household income
- $64,500
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Commercial in Belleville · last 12 months
- Median sold price
- $500,000
- Homes sold
- 752
- Median days on market
- 30
- Sale-to-list price
- 97.0%
Based on 752 recorded sales of commercial properties in Belleville over the last 12 months.
Listed by
Re/Max Quinte Ltd.
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Commercial figures
- Building area
- 14,757 sq ft
- Price per sq ft
- $128.41
- Annual property tax
- $28,312
- Tax per sq ft
- $1.92
Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.
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