16 GORE STREET E, Perth, Ontario K7H1H5
Listing courtesy of KELLER WILLIAMS INTEGRITY REALTY.
- $1,825,000
- List Price
- $1,825,000
- MLS®
- 1331798
- Status
- ACTIVE
- Type
- Multifamily
- Subtype
- Multi-family
- Lot Size Dimensions
- 79 ft X 89 ft
- Subdivision
- Downtown Perth
Property Description
Fourteen-unit income property includes 3 commercial retail units plus 11 residential apartments. This 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. Residential rents are currently 50% below market value and commercial rents are 30% below market value. Lots of upside for a sophisticated investor who will actualize the embedded equity to increase the value of the property by more than $2,000,000. 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:25314)
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Additional Information
- Ownership
- Freehold
- Subdivision
- Downtown Perth
- Parking Spaces
- 12
- Country
- Canada
- Sewer
- Municipal sewage system
- Heating
- Hot water radiator heat, Natural gas
- Total Number Of Units
- 14
