16 Gore Street E, Perth, Ontario K7H1H5

Listing courtesy of KELLER WILLIAMS INTEGRITY REALTY.

$1,825,000
List Price
$1,825,000
MLS®
1312207
Days on Market
80
Status
ACTIVE
Type
Multifamily
Subtype
Multi-family
Subdivision
Downtown Perth

Property Description

Fourteen-unit income property includes 3 commercial retail units plus 11 residential apartments. An incredible opportunity for a value-add investor that appreciates underperforming assets and knows how to make the necessary renovations and cycle out tenants to raise rents to a market value. The successful sophisticated investor will actualize the embedded equity to increase the value of the property by more than $2,500,000. Projected value of $4,400,000 once the building performance is improved to market rates. Residential rents are currently 50% below market value and commercial rents are 30% below market value. A fully occupied building in the downtown core of Perth, Ontario. All units are separately metered for hydro. Commercial tenants also pay for heat and water. Includes 12 parking spaces. No on-site laundry. Two tankless water boilers were installed 3 and 7 years ago. Two hot water tanks service the building & are less than five years old. (id:2579)

Additional Information

Ownership
Freehold
Heating Fuel
Natural gas
Subdivision
Downtown Perth
Parking Spaces
12
Levels
3
Country
Canada
Sewer
Municipal sewage system
Frontage Length
79 ft
Heating
Hot water radiator heat
Total Number Of Units
14
Stories
3

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
Please consult a financial professional.
Calculator source: Real Geeks