Office Listings

16 GORE STREET E
Downtown Perth Perth K7H1H5

$1,825,000
Multi-family baths: 0.0 built: 1920

Main Photo: 16 GORE STREET E in Perth: Multi-family for sale : MLS®# 1312207
Photo 1: 16 GORE STREET E in Perth: Multi-family for sale : MLS®# 1312207
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Photo 14: 16 GORE STREET E in Perth: Multi-family for sale : MLS®# 1312207
Status:
Active
Prop. Type:
Multi-family
MLS® Num:
1312207
Year Built:
1920
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:2493)
Property Type:
Multi-family
Transaction Type:
For sale
Zoning:
C1
Ownership Type:
Freehold
Property Management Company:
Self-Managed -
Community:
Downtown Perth
Number of bathrooms:
0.0
Half Bathrooms:
0
Age:
102 years
Exterior Finish:
Stone
Fireplace:
No
Foundation:
Stone
Heating:
Hot water radiator heat
Heating Fuel:
Natural gas
# Storeys:
3.0
Water:
Municipal water
Sewer:
Municipal sewage system
Lot Frontage:
79'
Lot Depth:
89'
Acreage:
No
Lot Size:
79 ft X 89 ft
Lot Details:
79 ft X 89 ft
Total Parking Spaces:
12
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Data was last updated September 26, 2022 at 09:45 PM (UTC)
RITA FUNG
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