Home of the Week: 19-23 135 Belmont Drive

19-23 135 Belmont Drive: $1,999,500 for a turnkey, multi-residential investment opportunity in the south end

Address: 135 Belmont Drive, Units 19 through 23
Neighbourhood: Glendale
Agent: Re/Max Hallmark A Team
Price: $1,999,500

The Place

A cluster of five three-bedroom, two-bathroom townhomes, packaged for real estate investors.

The Details

Aimed squarely at residential real estate investors, it’s a five-for-one combo in this week’s Home of the Week, with a portfolio of five rental properties in a South London townhome complex on offer.

All five properties (units 19 to 23 comprise a standalone block) at 135 Belmont are two-storey, three-bed, two-bath row home units with existing rental incomes in four of the five. The units in this complex are great rental properties ― they feature eat-in kitchens, dining rooms and living areas on the main floor, with bedrooms located on the upper level. Two of the units have been completely renovated recently, with new furnaces and A/C installed; the other three have had partial renovations done. All comprise around 1,400 square feet of living space and have private outdoor patios in the backyard.

Four of the units are currently rented, generating $8,739 in monthly rental income, while the fifth is expected to rent at around $2,400 per month. Condo fees run at $1,549.15 per month ($309.83 per unit), while the annual property taxes for all five totals $7,729.55 per year. Each unit includes a parking space. Tenants pay heat, hydro and water for these properties.

Located in a pretty family-friendly part of the city, this is a good opportunity for real estate investors looking for properties that can attract long-term tenants in a quiet South London nieghbourhood.

The Tour

Big Selling Point

A complete portfolio in one competitively priced package.

By the Numbers

• 5 units
• 3 bedrooms per unit
• 2 bathrooms per unit
• 1,400 square feet per unit
• $11,139 monthly estimated income
• $7,729.55 annual property taxes
• $1,549.15 monthly condo fees
• 1985 original construction

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